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Politics : High Tolerance Plasticity

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To: kodiak_bull who wrote (10234)	11/4/2001 10:57:52 PM
From: aerosappy	Read Replies (1) of 23153

Homebuilders Kb, I know that you are concerned about the homebuilders. Here in Atlanta the residential single family market is VERY strong in the starter home ("shotgun house") market. Low rates make it much easier and much more likely that people move from apartments (and double-wides) to starter homes. The high-end market is weak, but existing homeowners are refinancing with 15 year loans (same monthly payment) or new 30 year loans (lower monthly payment), and thereby improving their net position. While I can appreciate shorting TOL, I think that there may be better intermediate-term shorts among the apartment REIT's (Gables, Summit, Post, Equity Residential, etc.) Of course one (MAJOR) problem in shorting these issues is that you pay the not-insignificant dividend.

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