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Stephen Rosenman
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I enjoy analyzing the financial health of companies and pointing out areas the market is either not recognizing or ignoring. A long time investor, I put my money where my mouth is. That's why I'm passionate about my positions. I trumpet companies I believe in and back my articles up with data... More
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Stephen Rosenman
  • Do The Housing Permits Indicate A Housing Recovery Is At Hand? 0 comments
    Apr 16, 2010 11:25 AM | about stocks: DHI, TOL, BZH, HOV, NVR, KBH
        Hidden in the slew of news today, GE earnings, Bank of America, housings starts, was a hidden gem, one that portends well for the economy and ravaged housing industry:  March's unadjusted home building permits (www.census.gov/const/bpua.pdf).
        Certainly housing starts were good with seasonally adjusted starts at 626,000, better than expected 610,000.

       But it is the unadjusted monthly permits that wow us.  March permits are up 42.5% for all housing permits over 2009.  March is up 42.2% over February's. The breakdown of permits for 1 unit dwellings looks great, whether it's in the Northeast 15%, South 48%, or West 37%.  However, it's the Midwest building permits for single family homes that drop the drawers:  they have almost doubled from February.  The data on housing permits indicates a strong housing market is on its way, something that will play well for DHI, TOL, BZH, HOV, NVR, KBH among others.


     
        


     

    Disclosure: Long the home builders
    Stocks: DHI, TOL, BZH, HOV, NVR, KBH
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