Housing starts snapping back from unsustainably low levels. Buy homebuilder stocks!

Housing starts are way too low given the rate of family formations, the growing population and the normal need to replace some of the nation's older housing stock. The level of starts is not just discounting a depression, but nearly the end of the world. This has gone way too far. There is going to be a significant snap back, not to levels seen in 2006, but enough to suggest that homebuilder stocks are incredibly cheap right now.