well i certainly agree this won't be quick, my interest of late was sparked by the fact that i saw the stocks failing to go down on bad news, but that doesn't appear to be the case with PHM today, or apparently SPF on monday
there will always be anecdotal evidence of trouble in certain areas, it remains to be seen if it will evolve into more than localized issues for unwise buyers
HOV stated that they had renegotiated some of their land deals, and walked away from others, so it is clear that they are adjusting to the situation...how successfully they can do so also remains to be seen
perhaps the homebuilders will stop buying land for now and, like SPF, start buying back their stock
one thing i am pretty confident of, the builders will not go bankrupt, and the housing market will survive whatever it encounters, even if there is more trouble than i think there will be, so these stocks will at some point be a good buy, but as i think i have made clear, i have no idea when that will be <g> |
