Banks have begun to ratchet up Foreclosure sales after a several quarter moratorium.
Is this why shorts are covering in Toll Brothers (TOL), up 10% today?
Don’t Buy It!
If you enjoy the content at iBankCoin, please follow us on TwitterBanks have begun to ratchet up Foreclosure sales after a several quarter moratorium.
Is this why shorts are covering in Toll Brothers (TOL), up 10% today?
Don’t Buy It!
If you enjoy the content at iBankCoin, please follow us on Twitter
They’re all up … MTH, RYL, USG, MTG, SPF, BZH, HOV, KBH, PHM, LEN, DHI … something may be afoot.
Yes. Someone is covering their short. Perhaps a little momo-follow-the-leader. But no “investor” in his right mind would find value in this group
http://blogs.wsj.com/developments/2011/10/18/behind-the-numbers-builder-confidence-rises/
If banks blow out those foreclosures a bottom could be at hand (1 yr?) … LPX & USG may be investible values but agreud, it’s too early to play the builders.
There’s gonna be some kind of gov’t program to help homeowners who are underwater. Gotta put a bottom into the housing market. Recovery there is necessary to get the economy rolling. And it will be good politics. Help out the “good” people who have been making their payments or can get current on their loans.
But, it’s gonna be a long time until new home construction gets rolling again. It’s too early to buy those names.