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US: The fake housing recovery

Posted on 21 March 2012

When is a homebuilder not a homebuilder? When it’s in an index of homebuilder stocks, of course! The SPDR S&P Homebuilders (XHB) exchange traded fund has surged this year, leading many to speculate that the housing market has really, honestly, we’re not fooling around this time, cross our hearts and hope to die, bottomed.
The builders ETF is up a stunning 26% already this year. But here’s the thing. A big chunk of the companies in the fund that are doing well are not really builders………………………………………..Full Article: Source


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