This is one stupid housing market. The rate on foreclosures is picking up and the tsunami will crest the end of this year or next year.
So, why the run in the homies?
I sold shares of DHI @ $11.33, for S&G’s, obviously.
It looks like the guano is starting to hit the fan in Texas, as foreclosure activity is growing almost as fast as calls for succession from the Union.
DHI has big exposure to Texas.
YTD, DHI is up 57.8%.
Everybody and their gay cousin knows the biggest competition for the homies are foreclosure sales. Why buy a home at full price when you can get it for a substantial discount?
Yeah, that dog won’t hunt.
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