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VARIABLE INTEREST ENTITIES (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Restricted cash $ 541 $ 654
Real estate inventory, net 1,775 4,460
TOTAL ASSETS [1] 3,567 6,608
Liabilities:    
Total liabilities [2] 2,600 5,522
Variable Interest Entity, Primary Beneficiary    
ASSETS    
Restricted cash 530 636
Real estate inventory, net 1,735 4,408
Other 18 38
TOTAL ASSETS 2,283 5,082
Liabilities:    
Non-recourse asset-backed debt 2,134 4,396
Other 29 72
Total liabilities $ 2,163 $ 4,468
[1] The Company’s consolidated assets at December 31, 2023 and 2022 include the following assets of certain variable interest entities (“VIEs”) that can only be used to settle the liabilities of those VIEs: Restricted cash, $530 and $636; Real estate inventory, net, $1,735 and $4,408; Escrow receivable, $8 and $29; Other current assets, $10 and $9; and Total assets of $2,283 and $5,082, respectively.
[2] The Company’s consolidated liabilities at December 31, 2023 and 2022 include the following liabilities for which the VIE creditors do not have recourse to Opendoor: Accounts payable and other accrued liabilities, $28 and $61; Interest payable, $1 and $11; Current portion of non-recourse asset-backed debt, $— and $1,376; Non-recourse asset-backed debt, net of current portion, $2,134 and $3,020; and Total liabilities, $2,163 and $4,468, respectively.