The chart below shows the US Housing starts and permits over the last few decades. Even with the rebound over the last 2 years, the housing market has a long way to go to get back to the bottom of the past recessions.
This can be view in 2 ways: 1) the housing market has a long way to go on the upside and this is only the beginning of the rebound (bullish) and 2) this recovery is weak and only a dead cat bounce off historic lows and the recovery is a farce (bearish).
In this situation I am in the bullish camp.
No comments:
Post a Comment