2007 is Showing Strong Housing Stocks
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Forbes Magazine money manager Kenneth L. Fisher discounts the notion of a soft landing. He says housing isn’t going to land at all — because it’s already accelerating.
“In the last six months housing stocks are up 24 percent, well-ahead of the overall market,” Fisher says. “If housing were destined to fall apart in 2007, these stocks wouldn’t be so strong now.â€
Fisher says stocks in Pulte Homes, Toll Brothers, and Beazer Homes are worth considering.
Other analysts are similarly optimistic. Horton, the country’s biggest home builder, earns “buy” recommendations from Goldman Sachs, AG Edwards, UBS, and Citigroup. Even WCI Communities, whose Florida developments sit at the center of the homebuilding black hole, has seen its shares gain almost 50 percent since last summer, thanks in part to buying by mogul Carl C. Icahn.
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