This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

This Housing Recovery Is Real

The last time I had Pattinson on, which was about one year prior, he sounded so glum that I was about to call the prevention hotline to locate folks who talk people down off of bridges. At that time, Pattinson painted such a bleak picture of the housing market, I was not sure we would see a recovery in housing in my lifetime.

That was then, this is now. I trust Pattinson's opinion of the all-important housing market. After all, not only is he the CEO of Barratt Group in California, he is the former head of the Builder's Industry Association there. Pattinson has seen numerous cycles in California, which I consider to be the epicenter of the single-family home market.

I do not see new lots being cut into the hillsides of sunny, Southern California. I do not see truckloads of lumber headed for the new housing tracts. Nor do I hear construction workers celebrating about all the work they have. I fully expected his answer to be negative. My whole interview to follow was based on that assumption.

Instead he said responded, "Yes, Bill, it is for real!" I thought that he was going to proceed by telling me that there was also a Santa Claus!

He then went on to tell me about the wait time to get an appraisal. He told me about the shortage of workers in some markets, and he also reminded me of that very important factor in the housing market: Supply and demand.

The homebuilders have not done a lot of building of new homes over the last five years. In addition to this, the so-called shadow inventory of foreclosures is disappearing fast with the voracious appetite of investors looking to buy and turn them into rental units.
2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ITB $27.56 -0.29%
LEN $51.20 0.22%
TTC $68.63 0.22%
AAPL $126.44 -0.13%
FB $87.28 0.43%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs