As seasonality fades away, and buyers rush in to lock the last of generational theft via the $8000 1st time homebuyer handout, housing stocks begin to reflect reality. Another 50 day moving average broken - I'm starting to sniff out quite a few of these the past 48 hours.
This despite a trillion+ of taxpayer money used to suppress interest rates (now below 5% again). How truly sad.
So now we await the next home buyer handout making the rounds of Congress in the sure hands of lobbyists aka new ring of crime against future generations. All so we can tell the people everything is fine. All it takes is a few trillions thrown into the economy each year, taken from their grandchildren.
Someone remind me to load the heck up on housing related stocks March 2010 so I can fully enjoy the shock and awe when housing statistics rise in spring and summer 2010. As they've done each year for a good 50 years.... I too want to yell green shoots next spring and act surprised more people buy homes in June then they do in February. Then we can mock the people who use common sense while milking profits via Kool Aid.
Speaking of wasted taxpayer money, 3:30 PM approaches. Someone wake up Larry Summers.