Stephen Kim
Stephen Kim
continue convinced data depressed expect expected group next rally remain reported several stronger volatile winter
Overall, we continue to expect the group to be volatile yet directionless here as seasonally depressed winter data are reported over the next several weeks, but remain convinced that the group is positioned to rally on the back of stronger than expected spring-order data.
builders currently demand earnings fact higher housing margins nor post price public street supply
The fact is that housing demand has not slowed meaningfully, nor have supply constraints been noticeably undermined, and the large, public builders are set to post significantly higher price growth, margins and earnings than the Street currently expects.