Easily one of the most discussed and controversial topics, fears of a possible housing correction – or even a crash – has kept the pressure on against residential real estate companies, particularly Compass (COMP). Since the start of the year, COMP stock “only” lost a little more than 8%, which initially doesn’t seem that horrific. Extend it out to the trailing one-year period and we’re still only talking about a 19% loss.
However, since making its public market debut, COMP stock is down approximately 90%, based on weekly average pricing data from Google Finance. Moreover, circumstances have gotten incredibly ugly recently. Over the past 30 (calendar) days, shares slipped 33% as investors rush out of the housing ecosystem. With both inflation and interest rates remaining stubbornly high, fewer families have the financial means to quality for a mortgage.
