With robots slowly but surely taking over every semi-skilled occupation including in a bizarre development, the production of cocaine which may well unleash the era of cocaine deflation upon Wall Street (a welcome development in light of ever-shrinking bonuses), a new – and familiar – industry has emerged as the robots’ next target. According to Newsday, a California real estate technology company that aims to lower the cost of home-selling by using robots and ‘big data’ instead of commission-based real estate agents has recently opened a Long Island office.
The latest potential source of tech-inspired deflation, REX Real Estate Exchange, which charges a selling commission of only 2% instead of the usual 5 to 6%, launched its Long Island operation this summer. The Los Angeles-based company expects to start listing New York-area homes on its website, rexchange.com in the near-term.
This post was published at Zero Hedge on Sep 29, 2017.