Redfin CEO Glenn Kelman's Daring Remarks on Future Mortgage Rates

Saturday, 10 August 2024, 20:58

In a jaw-dropping moment during Redfin's second quarter earnings call, CEO Glenn Kelman outlined a rather shocking 'Plan B' should mortgage rates remain high. Kelman's comments—suggesting extreme measures including 'drinking urine'—were intended to illustrate the company's commitment to weathering the economic storm. While his remarks were undoubtedly provocative, they highlight the urgent challenges currently faced by the real estate market. This bold statement underscores the dire situation and the unpredictable landscape of mortgage rates.
TechCrunch
Redfin CEO Glenn Kelman's Daring Remarks on Future Mortgage Rates

Redfin CEO's Provocative Plan B

During a recent earnings call, Redfin CEO Glenn Kelman made a startling statement regarding the company's strategy if mortgage rates do not decrease.

Key Highlights

  • Kelman's Dramatic Response: He suggested 'drinking our own urine' as part of their Plan B.
  • Context of the Statement: Made during a formal earnings call, not an informal gathering.
  • Reflects Current Market Challenges: The remark illustrates the serious strains faced by the real estate industry.

Conclusion

Kelman's quote, though extreme, highlights the unpredictable future of mortgage rates and the lengths to which companies may need to go to survive economic fluctuations.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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