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!!!

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