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October 1, 2007

Today's Housing Bubble Post - Homebuilder Stocks -- Suckers

-- by Dave Johnson

Home-builder stocks rise on Citigroup upgrade,

Home-builder stocks rose Monday after a Citigroup analyst raised his stock ratings on several of the sector's largest companies on signs the worst may be behind the embattled industry.
Worst may be OVER?

Let's see, highest housing inventory ever, difficult to get credit, mortgage rates rising in response to Fed bailout attempt, prices far, far, far above what an average person can afford, a huge wave of ARM resets coming next year... and some probably-23-year-old analyst sees a price bottom?

Oh yes, go buy stocks based on a bottom - suckers.

Posted by Dave Johnson at October 1, 2007 10:02 AM

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