Like Clockwork, Another Year Brings Calls for Another Housing Market “Bottom”

What was one of the best performing sectors in late 2011 … and the first several days of 2012? Would you believe HOUSING?? The Philadelphia Housing Sector Index, or HGX plunged to 73.65 in October. But then it started rising, ultimately tagging 109.65 this week. That’s a gain of 49 percent in just a couple months. Some individual stocks in the sector performed even better. Leading home builder Pulte Group (PHM), for instance, more than doubled. So what’s going on? Is the recent string of decent U.S. economic data foretelling better times ahead? Is Wall Street awash in optimism about the upcoming spring home buying season? Does the move reflect hope about Washington’s latest whiz-bang plan to save . . . → Read More: Like Clockwork, Another Year Brings Calls for Another Housing Market “Bottom”