Here's Why the Worst Is Behind Zillow Stock
Real estate is an incredibly secure investment class. It's hard to go wrong with bricks and mortar, because even in difficult economic times, housing has plenty of utility as an income stream -- people always need somewhere to live.
But there are no guarantees in investing. With home prices soaring over the last few years, some companies have participated in a practice called iBuying, where they purchase thousands of homes at scale with the intention of flipping them for a profit. While it has worked well for some, it has been catastrophic for segment leader Zillow Group (NASDAQ: Z) (NASDAQ: ZG).
Zillow stock plunged 80% as a result of its significant iBuying losses, combined with the broader bear market in the technology sector. But Zillow is now taking its business in a new direction, and that effort is already proving fruitful. Here's why it might be time to add the stock to your portfolio.
Source Fool.com
