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What was that about a housing recovery? Homebuilder stocks fall as housing starts fell 4.1% last...

What was that about a housing recovery? Homebuilder stocks fall as housing starts fell 4.1% last month, after yesterday's report that sentiment among builders had risen to its highest level since 2007. Ratings of several homebuilders - including DHI -1.7%, LEN -0.9% and TOL -2.1% - were cut to Neutral from Buy, while KBH -1.1% and MTH -3.3% were slashed to Sell by UBS.
Comments (1)
  • Vindication! I have submitted numerous comments over the past week about the hype in home builder sentiment. Even a broken clock is correct twice a day, right? There are profound changes underway as we become a nation of renters, not home owners. I suggest this implies a paradigm shift in consumption patterns as well. For example, what happens to Home Depot sales as more and more people rent rather than own? Sherwin Williams? Lawn equipment?........
    19 Jan 2012, 11:34 AM Reply Like
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