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Homebuilder stocks continue to be slammed, and gauging just how far they may fall is getting ever-more difficult.
In the past, the thinking was that you should buy homebuilder stocks when they trade near book value, because historically the stocks head up from there. So long as builders made money from selling homes, or land values went up, the book value would also increase and so would stock prices, the theory held.
That model has been blown up. ...
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