More than 60 percent of builders surveyed in May reported that the overall supply of developed lots is low.» Read More
With stocks in rally mode, it's appropriate to drill down for answers as well as take a look at some key sectors.
Steel magnate Mittal is looking to buy; Morgan Stanley is up on the quarter; Cramer calls for consolidation in the housing sector.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
I'm blogging to you from the J.P. Morgan Basics and Industrials Conference in mid-town Manhattan, where I've never in my life seen so many freaked out CEOs. I say this only because not nine months ago I attended a similar UBS conference, where the Homebuilder CEOs and their CFOs and their PR reps and their baggage handlers and their mother-in-laws were all fighting with each other to jump in front of our cameras to talk about the recovery shining brightly ahead in the housing market.
It may finally be getting easier to sell that house of yours again. The SPDR S&P Homebuilders (XHB) has turned this month, jumping 6% over the last five days alone. More than half of that came today on comments from Treasury Secretary Hank Paulson who suggested the housing sector may get a little better. Is the worst over?
Susan Wachter, professor of real estate and finance at Wharton Business School, told CNBC’s “Power Lunch” that the housing market has yet to hit bottom.
Testimony by the two top U.S. economic officials on Wednesday raised fresh concerns in financial markets about the deteriorating housing market, despite their view that subprime mortgage problems are "contained."
The U.S. housing market has certainly gone through a rough patch lately--but there is some good news on stronger home sales--as we've reported. The Commerce Department says new U.S. home sales rose 3.4% in November. Analysts were looking for a gain of 1-2%. But new home sales are still down from a year ago by 15.3%. So--are there any good stock recommendations out there?