Steve Eisman, an investor known for his correct bet against subprime mortgages a decade ago, told Bloomberg News that he's taken a position against Zillow Group Inc. [s:zg], calling its new venture into selling houses "a terrible business." That Zillow venture, called "Instant Offers," was announced in April, to mixed analyst reviews. "We are big fans of this pivot," said Stephens' John Campbell at the time. A few weeks later, RBC Capital downgraded the stock, saying the shift into Instant Offers set the company up for a "transition year" even as the stock remained overvalued. Zillow shares are up more than 50% for the year to date. The company did not respond to a request for comment on Eisman's remarks.
