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Housing’s a wreck. Builders rally. Huh?

Posted on 26 August 2010

From CNNMoney.com: Stop me if you’ve heard this before. The housing market is still in shambles. Existing home sales plummeted in July. New home sales sunk as well, hitting a record low. And even though luxury homebuilder Toll Brothers reported a surprise quarterly profit Wednesday, that was largely due to a tax break. Sales were down slightly from a year ago and orders dropped 16%.
Despite this, some investors appear willing to once again bet that the housing market has hit bottom. Shares of Toll Brothers (TOL) were up more than 2% in early afternoon trading……………………………………….Full Article: Source


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