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Strategies & Market Trends : Value Investing
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To: Dave who wrote (22917)12/31/2005 2:34:40 PM
From: Paul Senior  Read Replies (1) of 78764
 
Dave, re: housing.

Thanks for the positive comments on homebuilders. (Well, I interpret those comments as positive anyway.)

I remember the old days when stock gurus pointed to stocks as being the much, much better investment than houses. S&P published every month a booklet with condensed stock data on maybe 2000 or more stocks. One of the columns was current stock price (as of pub. date), and another was high and low price of the stock in the past ten years. Quite amazing in flipping through the booklet to see how many stocks were currently up 10x or more from their lows. In other words, there were lots and lots of stocks where, if (IF!) you were lucky enough to buy at the lows sometime in the previous ten years, you'd be up 10x on your money now (on the publication date). You could not say that for houses. OTOH, the leverage involved with housing (20% down in those days) turns out - imo - to maybe offset the average rise in stock prices. There's also OTOH though - if I understand correctly - the Kiyosaki (Rich Dad/Poor Dad) idea that any "investment" you have to keep putting money INTO (e.g. make mortgage payments) and that you aren't get money out of, well that isn't really an investment.

---
Aside: about WHR: have sold some, still holding a stub position purchased 5/05 @ $62.85/sh.
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