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Housing stocks may not be on terra firma


By Sinead Carew and Rodrigo Campos(Reuters) - Investors may have overbuilt U.S. housing stocks as data has yet to match up with the homebuilder sector's biggest rally in five years. The S&P 1500 Homebuilding index of homebuilder companies has surged 32 percent this year and hit a decade-high earlier this week. By contrast, the wider S&P Composite 1500 Index has gained less than 9 percent.Housing optimists are pinning their bets on strong U.S. job creation, low interest rates, tight housing supply, robust earnings estimates and a lack of recessionary red flags. Some investors still see ...

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First Published: Sat, July 15 2017. 03:52 IST