And right now, Opendoor’s behavior, driven by the data it sees, augurs bad tidings ahead. “Right now, they’re trying to sell as much of their inventory as fast as humanly possible,” DelPrete says. One possible narrative is that based on the data Opendoor sees, the company believes things might get even worse. “They’re reading the tea leaves,” he says. “They just have better tea leaves than you and I do.” Fraser doesn’t dispute that: “We are able to react to changing conditions very efficiently and very quickly because of those signals we have in our business,” he says.
But the data Opendoor has access to may only tell half the
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