Housing is on a tear lately.
And it's reaching many sectors of the U.S. economy and stock market. It’s driven up the earnings and share prices of homebuilders like Toll Brothers (TOL) and home improvement retailers like Home Depot (HD). The SPDR S&P Homebuilders ETF (XHB), which tracks some of both types of companies, has rallied 53 percent in the past year.
Related: This Housing Recovery Has Legs
And many homeowners feel a little bit wealthier with home prices rising more than 10% in the past year, according to the S&P Case-Shiller national composite. In other signs of the housing rebound, sales of foreclosed homes tumbled 18% in the first quarter of the year and pending home sales just rose to their highest level in three years.
But what about the homeowners who were victims of the big banks’ mortgage abuses surrounding the financial crisis? Has the score been settled for them? There was that $25 billionRead More »from Homeowners Got ‘Screwed’ Once Before, Now It’s Happening Again: Barofsky