Zillow confirms more layoffs amid housing-market slowdown

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[Click Here Now to Get Your 100% FREE Inflation Survival Guide]( Sponsored  --------------------------------------------------------------- Zillow Group Inc. confirmed more layoffs Wednesday, as the real-estate services company grapples with a slowdown in the housing market. Bloomberg News reported Wednesday that Zillow laid off 300 employees, or about 5% of its workforce. Zillow confirmed the cuts in an email to MarketWatch. The housing market has slowed markedly in recent months as the Fed has sharply raised interest rates, putting mortgages out of reach for many prospective first-time homebuyers. Mortgage applications have dropped 1.7% this week as mortgage rates hit 7%, their highest since 2001, according to data Wednesday from the Mortgage Bankers Association. New home sales fell 10.9% in September, according to Commerce Department data, which added that new home sales are down by 17.6% year over year. Earlier this year, Zillow said it expected to cut its workforce by 25% this year as it unwound its disastrous home-buying business. The information provided is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. The opinions are from 3rd parties, claims have not been independently verified by us, and we have not been compensated in any way to review the companies or symbols mentioned. [Read the original article here.](  ---------------------------------------------------------------  A backdoor way to invest like President Trump? Expert who “wrote the book” on President Trump’s real estate empire shares unique group of stocks most investors have never heard of – including the name and ticker of his #1 pick. 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