This Is Why Housing Is the 'Rock Star' of the Economy
Millennials are starting to buy homes, according to one strategist. That's a boon for housing stocks.
It's all about housing.
Cole Smead, managing director and co-portfolio manager at Smead Capital Management, is bullish on housing stocks, such as Lennar (LEN) - Get Report , as more millennials start buying homes, albeit a little later in life than their parents.
On Tuesday, Lennar reported a 5.6% rise in third quarter profit, selling 7,598 homes during the quarter, compared to 6,779 home in the same period a year earlier.
Smead also likes shares of Target (TGT) - Get Report , a company's whose performance is tied to the housing sector.
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