Honestly, I shorted this stock a while ago and you can hand me all "it's figured into the price" crap all you want but there is NO good news about the housing market.What in the hell is keeping this PIG up?
It makes absolutely no sense whatsoever. I believe it is being propped up so institutions can dump at higher prices and the market as a whole is kept from sinking with the housing industry. I have seen previous posts that refer to the plunge protection team. Whatever force or control being used is only speculation by me, but for sure, however it is done....it does exist.
Right now it's all about interest rates. Long term rates have fallen providing hope for the bulls. However, lower rates won't turn around the results of the HBs because there is way too much inventory and there will be even more when ARMs adjust and the foreclosures hit.