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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: J. P. who wrote (11600)	7/15/2003 5:25:06 PM
From: Jim McMannis	Read Replies (3) \| Respond to of 306849

RE:"Yet the homebuilders rally. This is a disconnect for sure. Tell me how is this bullish for homebuilders?" Indeed. Old habits die hard. There is still mostly nonbelievers that rates will change trend and head back up. Most RE people I talk to say don't worry they will come back down. Never the less, mortgage rates have backed up over a point now. Probably will take a couple of months of slowing housing sales for the public to get it. Also don't forget the j curve. Once the public gets idea the interest rate door is closing you'll get a little spurt. But the door will shut like a trap door. In the mean time, the housing stocks will go up with the market. But other sectors will begin to out perform them if this is indeed a shift in rate trend. Already seeing that vis a vie some tech. Not to mention retail sales were up pretty good in June. An improvement in the rest of the ecomomy is due and needed. Even at the expense of the housing market which is torn between the "gotta gets", greedy" and "simply ridiculous".