by winston » Wed Dec 16, 2020 8:43 pm
23 MILLION REASONS TO BE BULLISH ON U.S. HOUSING
Today's company proves the housing boom is still going strong...
Regular readers know Steve is bullish on U.S. housing right now. Record-low mortgage rates are making homes extremely affordable... and the growing acceptance of remote work means folks no longer have to stay close to the office. They can live wherever they like. As a result, up to 23 million Americans are planning on relocating. And that's great news for today's company...
Zillow (Z) is a leading online marketplace for folks looking to buy, sell, or rent a home... Sellers pay to provide photos, videos, and descriptions of available homes. Not only have low mortgage rates made more people interested in homes listed on Zillow, but the pandemic has made online research more important than ever. Recently, the company reported 236.2 million average monthly users – a 21% increase from 2019.
As you can see in today's chart, Z shares are up more than 400% from mid-March, recently hitting an all-time high. As millions of Americans rethink where they live, expect Zillow's business to keep booming...
Source: Daily Wealth
It's all about "how much you made when you were right" & "how little you lost when you were wrong"