So they thought they saw a market opportunity and it didn't pan out and now they're panic selling because they have too many houses on their balance sheet. Ain't nothing new about this and in any liquid market you will have people who think they can corner the market and make money. The markets see-saw between greed and fear and there will always be those who want to allocate capital to gain from it. If you're a value investor, you're actually waiting for something like what Zillow has managed to do i.e. over leverage themselves and now will have to rapidly get rid of assets as they're probably hemorrhaging money. They'll sell pennies on the dollar and I'm sure the likes of blackrock will swoop in and get those assets. Nothing new here guys!