House-builder stocks doing wellA commentator on the business channel pointed out that Housing stocks are doing quite well. PulteGroup is at a 52-week high. The reasons he stated:
- young couples make up a large proportion of the population and are still wanting to set up new households.
- rents have soared so buying a house makes economic sense by comparison even with the higher-interest mortgage rates.
- resale of older homes is low because those owners don't want to move and lose their existing low-interest mortgages.
- some house-builders are offering sweeteners.