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To: mahler_one who wrote (8849)	3/4/2003 10:53:22 PM
From: jackhach	Respond to of 13797

I'm seriously thinking of shorting some of the homebuilders -- that market is so, so out of whack. No chance in hell are we going to see further increases in pricing for this group from here on out. Prices in the Northeast are now starting to border on the absurd (and its only in the last 2 to 3 months that we are starting to see some leveling) -- and what is most disturbing is that most Americans are or have tapped heavily onto their homes for equity. The amount of sustained consumption has been driven by these dollars. I expect Americans to finally begin to curb their excess spending over these next 12 to 18 months. -JH