Designs, constructs and markets high quality single-family detached homes and attached condominium apartments and townhouses in planned residential developments in the Northeast.
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Not convinced that a true housing recovery can develop with increasing unemployment, which suggests that a significant price rise on most of the housing related stocks is premature at best.
HOV is starting a 84 townhouse complex in New Jersey plus the extension of the housing tax break by congress today should allow the housing market a small bubble increase before the next wave of info to determine the housing market direction. As usual we are on the opposite side of the THUMB. I believe in holding on to this until March and then making a determination on the housing markets direction with more information on the job market and inflation.
NJ may have got an emotional and economic boost from its new governor. I believe that it currently ranks 50th on the list of the most business friendly states, so any change will likely be an improvement. The government housing tax break is a variation of the cash for clunkers program, but whatever help it adds to the low end of the housing market, the effect is likely to be transient. I may have to hold my position longer but I doubt that the government action will change the eventual outcome.