#ibuying

#ibuying

Opendoor Technologies ( NASDAQ: OPEN) went public via SPAC merger in December 2020 with a bold vision: use technology to eliminate friction from home buying and selling. The iBuyer model promised homeowners instant cash sales while buyers browsed algorithmically priced homes online. Investors initially loved it. The pandemic housing boom was rocket fuel. Low rates and remote work sent home prices soaring, and Opendoor's tech-forward approach seemed perfectly timed. But the model had a fatal flaw: buying massive inventory with borrowed money,

What began as a near-death experience for the online home-flipping platform - trading as a penny stock amid a brutal housing market downturn - transformed into one of the year's biggest rallies. Shares have skyrocketed nearly 900% in the past six months, fueled by retail investor enthusiasm, social media campaigns, and a leadership shakeup that brought fresh optimism. High short interest, exceeding 22% of the float, made it a prime target for squeezes.

In a bold move to address the escalating U.S. housing affordability crisis, Treasury Secretary Scott Bessent announced that President Trump is contemplating declaring a "national housing emergency" this fall. Speaking to the Washington Examiner , Bessent emphasized the administration's focus on tackling soaring home prices and limited inventory, a critical issue as the 2026 midterms approach. Potential actions include standardizing local building and zoning codes, reducing closing costs, and exploring tariff exemptions for construction materials to boost housing supply.