Patrick Clark
Bloomberg
New York, NY, United States
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Past articles by Patrick:
Wall Street Is Losing Out to Amateur Buyers in the Housing Slump
Big money spent a fortune snapping up homes. Now, regular folk are outsmarting the pros. → Read More
Wall Street Landlords Want to Rent You a Greener Suburban House
The single-family rental industry is slowly making its homes more energy-efficient. → Read More
Homebuyers Turn to New England Bargains in Hottest US Markets
New England dominates a list of the hottest zip codes for housing in the US this year. → Read More
How Managing by Moonshot Doomed Zillow’s Home Flipping
CEO Rich Barton loves a BHAG—a big swing, an all-in flywheeling Manhattan Project to the mountaintop of his super app. It’s worked for him, mostly. → Read More
Wall Street Is Buying Starter Homes to Quietly Become America’s Landlord
Private equity money is pouring into the Phoenix real estate market, turning first-time homebuyers into renters. → Read More
There’s Still No Amazon for Housing, But Fintech’s Working on It
Buying and selling a house is a large, complicated transaction, so companies are focusing on making small parts of it easier. → Read More
Zillow’s Algorithm-Fueled Buying Spree Doomed Its Home-Flipping Experiment
How the real estate company’s innovation became a $569 million cautionary tale. → Read More
Zillow Shuts Down Home-Flipping Business After Racking Up Losses
(Bloomberg) -- Zillow Group Inc. is pulling the plug on its tech-powered home-flipping operation after deciding that its pricing algorithms weren’t accurate ... → Read More
Zillow Seeks to Sell 7,000 Homes for $2.8 Billion After Flipping Halt
(Bloomberg) -- Zillow Group Inc. is looking to sell about 7,000 homes as it seeks to recover from a fumble in its high-tech home-flipping business.Most Read ... → Read More
Zillow Won’t Buy Your Home, but Rival Opendoor Might
(Bloomberg) -- The struggles at Zillow Group Inc. are giving a boost to its less-famous rival Opendoor Technologies Inc.Most Read from BloombergGoogle’s... → Read More
Zillow Pauses Homebuying as Tech-Powered Flipping Hits Snag
(Bloomberg) -- Zillow Group Inc. is taking a break from buying U.S. homes after the online real estate giant’s pivot into tech-powered house-flipping hit a... → Read More
Zillow Tumbles After It Stops Buying New Homes
(Bloomberg) -- Zillow Group Inc. shares fell as much as 6.8% in premarket trading Monday after the online real estate firm said it would stop buying new... → Read More
Zillow Pauses Home Purchases as Snags Hit Tech-Powered Flipping
(Bloomberg) -- Zillow Group Inc. is taking a break from buying U.S. homes after the online real estate giant’s pivot into tech-powered house-flipping hit a... → Read More
Zillow’s Home-Flipping Bonds Draw Wall Street Deeper Into Housing
The company’s iBuying program is part of a boom in programs that make it faster for customers to sell. → Read More
NYC Takes Biggest Hit From $59 Billion Business Travel Collapse
New York hotels are getting crushed by the collapse of business travel, highlighting the challenges that urban lodging markets face from the ongoing pandemic. U.S. hotels are expected to lose $59 billion in revenue this year as companies keep business travelers home. New York City is the biggest loser, with other major cities and convention markets also seeing big declines, according to research… → Read More
Goldman Sees 750,000 Evictions in U.S. as Bans Come to an End
Landlords may evict roughly 750,000 U.S. households by the end of the year, as lapsing eviction bans and high demand for rental housing push property owners to remove tenants, according to analysts at Goldman Sachs Group Inc. → Read More
Prices of U.S. Hotel Stays Recover to Pre-Pandemic Level
The party is over for bargain-hunting travelers. → Read More
I Drove 1,100 Miles in an RV, and All I Got Was a Bloody Hand and a Pool of Raw Sewage
Business is booming in Elkhart, Ind., the motor home capital of the world and the first stop on our writer’s pandemic road trip. → Read More
Hotels Show Signs of Life With Long-Awaited Rebound in Sight
After the hotel industry’s worst year on record, a long-awaited recovery is finally approaching.Occupancy rates at U.S. hotels reached 52% last week, the highest since lockdowns began, according to lodging-data provider STR. Shares of lodging companies are surging on the prospect that a rebound is at hand, while companies such as Blackstone Group Inc. are making high-profile deals in the… → Read More
Hotel Investor With $1 Billion Bets on Business Travel Rebound
Pent-up vacation demand has boosted investor demand for beach resorts and roadside hotels. That crowded wager is already pushing one investor to explore ways to bet on business travel. → Read More