The stock is up another 2.5% today, making new highs, just as AEC has and is doing.
Six months late to the party, the world is suddenly grasping onto the idea “Wow! Renting is so much more freaking awesome than owning a home.” The latest contruction report was a huge win for renting (especially multifamily units), underlining demand for rental units is pushing for big expansion in the industry.
I could have told you that back at the start of the year, when ever operation I was checking was hanging out over 90% occupied. That’s great, when you’re a landlord, but it highlights an uncomfortable fact.
You could be making more money.
The neat thing about CLP as a business, if I recall, is that they have a decent sized construction segment in their own business lineup. So while they are already expanding their operations, they can also turn revenue by engaging in projects for others.
(I think that was CLP at least. Maybe it was AEC? I’m not taking the time to look it up, one of those is a winner for me; maybe both.)
I also added to my ERX short today, for $80.51 a share. It could go higher (much higher), but until I see a few developments in the market, I’m staying short energy. Especially crude and gasoline, which are so intertwined with industry.
If I don’t win big, maybe I’ll managed to close the loss from trading the volatility a little. However, the core of the trade stays on for now.
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Thanks for the early 2011 CLP/AEC highlight.
Renting has been sweet, but with housing on the cheap I’m looking to buy.
Luck would have it I’m just young enough to have missed the early 2000’s housing slaughter. Now I feel like a vulture circling a jackknifed filet minion truck.
I fully understand. Happy hunting to you.
Personally, there’s so many liquid ways to play the housing market, I don’t know why you’d buy up illiquid assets. But it sounds like you’re looking for a house to live in, so have at it, my friend.
Yeah, a friend of mine just retired and moved to Florida. He owns a home in a college town in Oregon that is a lot more profitable to rent out than to sell. In the meantime he paid cash for a house in Florida he paid cash for. Some extra income and no rent or house payments, sweet.