The Mortgage Market Is Cooling Off

The housing market has taken a huge hit this year as mortgage interest rates have surged and homeowners scale back on purchases.

The latest casualties in the property technology world are Redfin and Compass, which both announced layoffs today that combined amounted to about 920 people.

In a letter to employees and published on the company website, the CEO Glenn Kelman wrote and I’m going to quote a portion of the letter.

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Host: Victor Menasce

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