[9/7: updated stop to 48. We’re already #FreeRiding here, so whatever we sell the remaining portion of the position for is pure profit!]
According to “the news,” Americans can’t afford to buy homes and rising mortgage costs will only deepen the problem.
Cool story, bro.
Do you know what disagrees? The price of virtually every publicly traded homebuilding company. We’re already long Lennar and Toll Brothers which continue to work for us.
Next up is KB Homes $KBH, which appears to be on the verge of a big breakout following a welcome response to its recent earnings report.