The top 13 public housing stocks do business in multiple regions. They will
always be making decent profits in some growth market in the US. The pricing
power that any given builder has can move from one part of the country to
another. I dont think pricing power can go away across the country all at the
same time.

Even in hard times like we see today, the big home-builders will grow by
consolidating. The top 10 home-builders still control only a fairly small
percentage of the market, what happens when they consolidate?

Several trends suggest that supply will continue to be dwarfed by demand. In
regards supply, there are land shortages in key metropolitan areas(see NYC) and
bigger obstacles involved in using land for housing which at least keeps the
prices fairly steady, or only a slight decline. If a builder can produce a
house for minimal capital using materials and supplies from a bust market to
build a house in a market where the prices are still rediculously out of whack
because of the laws of supply and demand then the builder still stands to turn a
profit. The easiest way to show this comparison is to view what it costs to
build 2 similar structures in 2 completely different markets, and compare the
bottom line.

You know I am thinking it is a bottom in the housing mrkt. I know so many people
that live with their parents. They cant afford to be on their on. I cant help
wondering what all this craziness is truly doing to our society?

they topped out ahead of the stock market, why cant they bottom before the
rest?

**youre fighting it** instead of arguing why others dont get it, perhaps you
should be asking what you dont get. such thinking helped me advance greatly as a
trader

value time.....value = dead money waiting for momentum traders to come and play.

I can tell you I have never been a proponent of the builders. I have posted my
opinion many times on this site as well as the forums over the last two years.

Look for BZH and possibly HOV to be gone before the end of the year. One of
their main problems if you review their numbers most report their land values or
inventory at their original cost. Most of the land was purchased from '03-'05
and has not been reflected to current values. You can discount much of their
inventory by 20-30% and it could get worse.