“Accept No Substitutes” (or Proxies) No, “Which companies are in S&P’s Homebuilders ETF?” isn’t a, “Who’s buried in Grant’s Tomb?” question. It turns out that a majority of stocks in the index don’t make homes — they make the things that go in them. That includes bed manufacturer** Tempur Sealy (3rd largest position); carpeting giant Mohawk Industries...Read More
After the Deluge: New Growth Maybe new home builders have always been young. But, they sure seem a lot younger these days. At least anecdotally, it appears that many older, established new home builders got out of the business following the collapse in new home construction starting in 2006. As new home construction has picked up...Read More
Cleaning Up After the Elephants; or, “Love ’em and Leave ’em” It was fun — sort of — while it lasted. But what a hangover! In 2004, when local land went for $120k an acre, national home builder Toll Brothers swept into the Twin Cities paying . . . $200k an acre. Why? Because it...Read More
