| ||||||||||||||||||||||||||||||
What is S&P 500 Homebuilders pricing in? By Prieur du Plessis, on March 23rd, 2010 posted in: Economy, Housing, Investment  Leave your comment
I last week posed the question “Is real estate rolling over?” in a post including fairly bearish commentary from Robert Cambell’s Campbell Real Estate Timing Letter. I also included a chart of the SPDR S&P Homebuilders ETF – ticking all the boxes of a cyclical bull market – and pondered on whether the stock market was getting it wrong. Here is the chart again:
Source: StockCharts.com David Rosenberg, chief economist and strategist of Gluskin Shedff & Associates, provides more food for thought, stating that his regression analyses show the Homebuilders Index to be pricing in the following: • Housing starts: pricing in a level of 800-900k (versus 575k currently) • Existing home sales: pricing in a level of 5,500k (versus 5,050k) • NAHB Housing Market Index: pricing in a level of 35 versus 15 actual. Is this the most expensive part of the US stock market?
More on this topic
(What's this?)
Nearly 70% Of S&P 500 Stocks In Correction Or Bear Market Territory
(Disciplined Approach to Investing, 8/23/15)
S&P Approaches Critical Tipping Point
(Capital Essence's Investment Blo..., 9/8/15)
S&P500 Getting Ready to Break
(the Underground Investor, 8/19/15)
|
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
 (requires Windows Media Player) 
|  
   | ||||||||||||||||||||||||||||
Copyright © 2017 Investment Postcards from Cape Town - All Rights Reserved | ||||||||||||||||||||||||||||||
Email
Byron Wien Announces “The Ten Surprises” for 2013
Prieur’s Readings (January 3, 2013)
Bob Farrell’s 10 rules for investing
Running 2012 NYC Marathon – a means to a better life for impoverished children
Prieur’s Readings (August 29, 2012): No “death of equities”
Leave a Reply