Quote of the Day: Housing Boom!
What I found so amazing during 2006/07 was the brimming (tho misplaced) self-confidence of the Housing Bulls . . .
"Don't buy it. For months now the debate has been over whether America will have a hard landing or soft landing, the answer hinging on how big 2007's housing disaster turns out to be. Well, there won't be any housing disaster. We won't have a landing at all, soft or hard. Right now the U.S. and global economies are both accelerating.
You can see right through the housing crash story by looking at the prices of housing stocks. The market knows what the economic worrywarts do not, which is that the housing sector is already making a comeback. In the last six months housing stocks are up 24%, well ahead of the overall market. If housing were destined to fall apart in 2007 these stocks wouldn't be so strong now
Did you know that housing sales are up in the last few months, not down, and that inventories are lower than six months ago? We're accelerating, not landing. This is true not just in housing but also pretty much across the board."
- Kenneth L. Fisher
Recommendations: Buy Pulte, Toll, Beazer
Kenneth L. Fisher
Forbes, 02.26.07, 12:00 AM ET
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We need to find out what kind of drugs Fisher is using. The stock market is a group of folks with money looking for a place to put it to work. On Friday and today the markets have rallied 300 points just on the news that AMBAC & MBIA would either be rescued or keep their AAA ratings. Please, find other investments before its too late.
Posted by: Pat G. | Feb 25, 2008 5:46:43 PM
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