Below are headlines on some of the stories you might have missed from the past week. Stay safe, everyone.
- Alex Nicoll reported that real-estate brokerage Redfin is furloughing 41% of agents until September, painting a dire picture for how long the US housing market will take to bounce back.
- Troy Wolverton reported that Airbnb could run out of cash in one year, even with the $1 billion it just raised, because of how devastating the coronavirus is on its business.
- Alex reported that short-term rental managers are ramping up their amenities to include masks, hand sanitizer, and large cases of wine as city dwellers look for their “destination isolation.”
- Airbnb-slashes almost half of its remaining staff less than two months after a round of layoffs
- The coronavirus is slamming iBuyers, and firms like Zillow and SoftBank-backed Opendoor are halting their capital-intensive home-flipping businesses