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This ought to send builder stocks up...

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April 29, 2008 – Comments (3)

Just like all the other negative news has for the past month or so:

U.S. Home Foreclosure Rate Soars 112 Percent- AP

The number of U.S. homes heading toward foreclosure more than doubled in the first quarter from a year earlier, as weakening property values and tighter lending left many homeowners powerless to prevent homes from being auctioned to the highest bidder, a research firm said Monday.

3 Comments – Post Your Own

#1) On April 29, 2008 at 11:06 AM, leohaas (31.15) wrote:

Of course, this will send builders up. After all, the expectation was that foreclosures would be up 125%, but it is "only" 112!

Disclosure: at the time of writing, owned an XHB put. 

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#2) On April 29, 2008 at 11:20 AM, floridabuilder2 (99.32) wrote:

congratulations, i heard you just landed a job as a builder analyst...... good analysis!

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#3) On April 29, 2008 at 12:38 PM, TMFBent (99.81) wrote:

They didn't offer me the job, FB. I refused to gobble the bananas the publics were tossing my way, so they figured they could find a few more pliable chimps for their cages.

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