[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.] [@Kolby_Smith](/creator/twitter/Kolby_Smith) "The issue with $OPEN is simple: theyre stuck holding a large backlog of inventory in some of the weakest housing markets. Each quarter theyre taking write-downs but instead of de-risking they keep adding more homes to the pile. The iBuyer model could work especially with NAR changes slashing agent commissions but this story likely gets worse before it gets better. High carrying costs and slow turnover remain major headwinds. A Fed cut and soft landing might help but the odds are still against them. Even the CEO just trimmed a small portion of his stake at $XXXX. Proceed with caution"  [@Kolby_Smith](/creator/x/Kolby_Smith) on [X](/post/tweet/1947804553879208017) 2025-07-22 23:42:48 UTC XXX followers, XXX engagements
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@Kolby_Smith
"The issue with $OPEN is simple: theyre stuck holding a large backlog of inventory in some of the weakest housing markets. Each quarter theyre taking write-downs but instead of de-risking they keep adding more homes to the pile. The iBuyer model could work especially with NAR changes slashing agent commissions but this story likely gets worse before it gets better. High carrying costs and slow turnover remain major headwinds. A Fed cut and soft landing might help but the odds are still against them. Even the CEO just trimmed a small portion of his stake at $XXXX. Proceed with caution"
@Kolby_Smith on X 2025-07-22 23:42:48 UTC XXX followers, XXX engagements