Opendoor Technologies Inc (OPEN)

[santafe2]

Yes, lots of speculation and gambling going on now. If we consider that the Fed may continue to raise interest rates through mid-summer and that it appears student loan forgiveness is dead in the water and student loan payments are scheduled to begin again this September, it may be a few years before home prices stop falling. According to the St. Louis Fed home prices just leveled off in Q4 '22. It's going to be a long year for OPEN. We'll have to reassess at the end of the year. That is, if they've survived. Given their recent foray into multi-million dollar homes, I'm not so sure they can make it. For example, they have a home in San Diego listed for $28MM and another one listed for $23MM. What were they thinking moving into this high end market?