Who would’ve guessed that heading into 2023, a year rife with banking scares, inflation, and collapse in mortgage applications — the best performers would be the companies building homes.
I remember the last time homies led the way, circa 2006-2007 when they traded like tech stocks, just before their eventual collapse. In order for the housing market to collapse, we’d need to see delinquencies and we are not seeing that at all. Perhaps we are a few years away? Wishful thinking.
Copper is bid higher by nearly 2% and iron ore futures are at 18 mo highs. Crypto currency Solana is up 800% this year and all of the NFTbros are back. It’s sickening to see it and even worse is when you’re not in it. But we can’t keep hating things forever. The cortisol is bad for our life expectancies. Perhaps we should join the transgendered bulls and gravitate towards wanton degeneracy?
The action looks encouraging early on. But we are at the end of the year, so don’t expect much.
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