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Homebuilding stocks have been on a tear, climbing 168% on average from their trough in March, outpacing the S&P 500's 57% rise during the same period, says Barclays Capital analyst Megan Talbott McGrath, who tracks eight major builders. If Hovnanian Enterprises, whose stock has soared 645% from its trough, is excluded, builders have rallied 89% on average since March, she says...
Despite the rally, homebuilding stocks remain far off their July 2005 highs. They lost more than 80% of their value on average from July 2005 to their trough in March 2009, noted Keefe Bruyette & Woods analyst Bose George...
...Although it is counterintuitive, the best approach to reversing the falling prices of homes may be to push the housing market to a deep trough as quickly as possible. This would mean that the government would not provide any assistance for current homeowners and give no financial aid to people who might buy a residence using tax credits. The idea of a benefit of up to $15,000 for those purchasing a home has already been floated in the debates over the stimulus package. Bringing housing back to a period of "affordable" prices means the government needs to stay...
...Trillion-Dollar Question Michael Grunwald's story contains the most gems per paragraph of anything I have ever read [Jan. 26]. His analyses of the problems, the opportunities, the pitfalls and the inevitable lining up at the feeding trough are all spot-on. I especially liked the admonition to give the money to the people who can't afford to save it. That money will go straight to the free market - even though my wife and I will most likely save anything we get. Paul Bliss, San Diego...
Grunwald's story contains the most gems per paragraph of anything I have ever read [Jan. 26]. His analyses of the problems, the opportunities, the pitfalls and the inevitable lining up at the feeding trough are all spot-on. I especially liked the admonition to give the money to the people who can't afford to save it. That money will go straight to the free market - even though my wife and I will most likely save anything we get. Paul Bliss, SAN DIEGO...