Ripe for shorting...way ahead of itself and the facts
Sure, sure, housing is booming... Green shoots all over again! Face it, 20 million houses in shadow inventory will soon be pushed out of foreclosure moratorium into the market, and we'll see a weak spring market and deflated prospects for anything real estate related.
Masco is worth half of the current price -- just look at their balance sheet(take out half of the goodwill, and they have a negative net worth).
Thanks for the short opportunity, though!
Somehow the market doesn't agree with assessment to go short. MAS is holding above $17, which is above the 20, 50 and 200 day MAs. What gives? Maybe too many shorts already? Maybe some good news to come out soon?
oops, I mean 2 million houses in shadow inventory (and another couple million that are 90 days deliquent, so maybe 4 million total in the shadows. That's equal to the amount of normal inventory that hits the market for resale, so it clearly is a drag on a new bull market in housing prices.