Gloom ahead for housing stocks
MSN Money did a nice writeup yesterday of the current state of housing stocks. The group hasn't fared so well as a whole, going down over 37% for the year. Several people I've spoken with representing institutional investors have been selling the sector since the beginning of the year. Is it a buying opportunity or will the downward trend continue? Initial estimates, especially after the group's drop in the wake of positive housing start data, seems to indicate the latter scenario.
