Friday, July 17, 2009
June housing construction rises, building permits soar
The Commerce Department said Friday that construction of new homes and apartments jumped 3.6 percent last month to a seasonally adjusted annual rate of 582,000 units, from an upwardly revised rate of 562,000 in May.
Housing starts are still WAY too low and homebuilder stocks are incredibly cheap!!!
The S&P homebuilder SPDR (XHB) is up 25% since my March 17th blog post advising buying homebuilder stocks.
These stocks have recently had a correction. You can still buy them on the cheap. Do it!!!