Then why are these "smart" guys buying this stock at $28/share. All indicators, housing analysts, business writers, financial magazines, commentators, foreclosures, building permits, real-estate agents, buyers and sellers, builders, subcontractors, lumber yards, newspapers..etc. all indicate one of the most severe housing downturns ever. Seems like the "smart" guys would wait and buy at $15/share.
I don't see that there is any good news for home builders. Inventories are high and rising. Housing affordiblity is a at a twenty year low. The data this month shows that inflation adjusted incomes have declined. The savings rate is at zero and consumer debt is at an all time high. Housing is going to continue it's decline. We are still early in the slide.