May 11, 2008
Consumer spending as mentioned numerous times in the past, supports some 70% of GDP. With unemployment starting to ratchet up some serious numbers, this represents the second act of the story.
The first act, already complete, but certainly not set to return anytime soon was consumer spending supported by Mortgage Equity Withdrawal.
April 22, 2008
Somewhere in the recent comments section, I posited that homebuilders would no longer be contributing to weakness in the S&P500 index, thus, along with stabilising financials, that the primary drivers of the bear market, as far as the index was concerned, had already possibly seen the worst.
From Bespoke;
As can be seen, speculators within the homebuilders have done rather well. Whether any value investors have participated, I have no idea, however certain stocks, specifically TOL, actually represent value, if, you have a longer time horizon.
