everything else -- including a still-massive overhang of properties for sale
-- the fact that ultra-cheap financing is not enough to induce a suffcient number of buyers to step up and take the plunge
makes it apparent that we are nowhere near a bottom in the housing market.
And yet, Wall
Street keeps piling into homebuilding stocks (I guess fundamentals don't
matter when you're the "smart money" -- right?).
Michael J. Panzner