TGIF For The Home Builders, Bubble Denial
It has been a tough week for the home builders. Several announced a record quarter, backlog, etc., yet the markets punished them. This chart of the housing index (^HGX) shows that sentiment has taken a turn for the worse.
Speaking of sentiment, how about this headline from Yahoo Finances' weekend edition. 'Housing Bubble Exists Regionally', is actually a MarketWatch story from a while back, but taken with the CNN piece earlier, it looks like the media has decided it's a bubble after all.