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Yet Somehow, Builder Stocks will Rise...

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April 24, 2008 – Comments (3)

New Home Sales Plunge to Lowest Level in 16 1/2 Years- AP

Sales of new homes plunged in March as housing slumped further at the start of the spring sales season. The median price of a new home fell by the largest amount in 38 years.

3 Comments – Post Your Own

#1) On April 24, 2008 at 11:09 AM, mandrake66 (45.23) wrote:

It's all good, gave me a chance to put an underperform in on RYL. Can't believe it went up today.

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#2) On April 24, 2008 at 12:20 PM, Terok1313 (30.55) wrote:

Well, clearly this plunge marks the bottom of the market, making it now safe to buy builder stocks, right?

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#3) On April 24, 2008 at 4:09 PM, floridabuilder2 (99.33) wrote:

even if builder stocks don't pull back they have limited upside from current levels over the next year.....  i count 10 top 200 (5%) builder bankruptcies, yet the pie of opportunities is cut 60%..... do the math....................  take out profits related to land appreciation that were captured during the run up and builders are going to be smaller, less profitable (through land) and in a more competitve environment (no bankruptcies).....

 

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