multifamily starts is a wake-up call for housing bears
Sure, they will now say that this is a random fluke and that the multifamily market doesn't matter at all. But when the same multifamily starts were contracting, did any of these bears tell us to disregard these numbers because multifamily starts don't matter? So either way we have been exposed to some "extra" cries that the sky is falling: either now or several months ago. My personal take is that Chicken Little is dramatically wrong NOW, and I will be very much surprised if April 2008 does not go down in history as THE BOTTOM of the housing market. I think the next three months should justify my bullish take on housing and by the end of August everybody will be saying the same things that I'm saying now. Meanwhile, I like it how my HB stocks are behaving in this market, and congratulate myself with not heeding floridabuilder's advice to wait till the end of May or beginning of June.