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"In what is likely the first of many more of these sorts of announcements in the real estate space, Redfin is laying off 20% of their employees... Case in point, in a story on Inman News today, research firm Borrell Associates is “forecasting that annual growth in real estate-related online advertising will slow to 11.3 percent in 2008 and 5.1 percent next year." Good business will survive; bad businesses won't; and capital will get redeployed more efficiently.
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