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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who started this subject6/18/2002 7:00:23 PM
From: Box-By-The-Riviera™  Read Replies (2) of 436258
 
lewis on the housing stocks today:

May housing starts came in at up almost 12 percent, the biggest jump since 1995. In reaction to this, the housing stocks all gapped up big, but the close was not as strong. Many finished on the lows of the day, or in the case of BZH (which fell 2 percent) ended down. The lack of much upside follow through is more confirmation to me of a weak stock market rather than the market giving up on the housing market. To repeat my opinion on the housing stocks once again (for whatever it’s worth), it’s going to take higher long-term interest rates to pop the housing bubble. In the meantime, the housing shares are likely to correct with a market selloff, but they’re probably headed higher after that.
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