Though the blowout numbers kind of speak for themselves, Robert Toll makes the bullish case for homebuilders in Toll's (TOL) earnings report: He notes a Harvard study showing household formations 1.8M-2.8M less than what would have been expected given population growth since 2007. Recent trends show these formations are starting to catch up. New homes built in 2012 will be about 750K, about half of what's needed to keep up with formations.
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