Déjà vu all over again in housing!

In late 2009, just a few months before the 2010 spring selling season for homes got underway, the Philadelphia Housing Sector Index (HGX) started to move. The benchmark index of housing and construction-related stocks surged from around 90.55 in November to 132.53 in late April — a gain of 46 percent. Investors and pundits hailed it as proof positive that the housing market was finally on the mend … that blue skies and rainbows were here to stay! But what happened next? The index flopped and chopped around for a while … then fell off the table. Ultimate loss through October for anyone who bought the hype? 39 percent! In late 2010, just a few months before . . . → Read More: Déjà vu all over again in housing!