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Politics : PRESIDENT GEORGE W. BUSH
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To: MKTBUZZ who started this subject3/18/2003 7:19:49 PM
From: Baldur Fjvlnisson   of 769667
 
Increase in mortgage debt 2001 and 2002 = $1.6 Trillion

Michael Rehaut at J.P. Morgan reiterated his "negative"

stance on the homebuilding sector following the weaker than expected housing starts data for February. He believes stock valuations will continue to fall, likely 15 to 20 percent from current levels, as home building orders slow, inventories rise and pricing becomes more difficult. Among stocks in the sector, Pulte Homes, D.R. Horton, Centex, Lennar and KB Home. The U.S. Commerce Department said earlier that housing starts for February fell 11 percent, the biggest decline in nine years, to a seasonally adjusted annual rate of 1.622 million, versus economist expectations of about 1.76 million.
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