David Shippey

OpenDoor reports losses of $928,000,000 in 3Q 2022

Posted By David Shippey @ Nov 7th 2022 7:27am In: Winter Haven News

OpenDoor has announced losses of $928M in third quarter 2022. OpenDoor purchases the home from the seller, makes repairs to the home, and then sells the home for a profit. Unfortunately, with the downturn in the real estate market over the last several months, OpenDoor is selling some of their homes for less than they purchased them.

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