Zillow Q3/2021: Riddle Wrapped in a Mystery Inside an Enigma

I was in mid-air when the Zillow Q3 earnings release happened. By the time I had landed, there were dozens of texts, emails, and of course, social media postings. There were and are a lot of hot takes.

I'm reasonably convinced that all or most are wrong in some significant way. Many are laughably shallow.

My initial hot take was and is likely wrong in som…