New York, NY (PRWEB) September 13, 2012
According to George Leong, contributor to Profit Confidential, the housing market is clearly on the upside, with stronger housing starts and building permits. Leong reports that there were 746,000 housing starts in July.
“The reading was a bit soft but much better than what we saw earlier in the year, indicating that housing starts continue to be relatively strong,” says Leong. “The building permits reading of 812,000 in July was impressive, well above the 770,000 estimate and the revised 760,000 in June.”
In the article “U.S. Housing Market on Much Better Footing,” Leong notes that this strong reading indicates builders are expecting a good flow of buying in the housing market.
“Moreover, home prices, representing another key piece of the housing market, are edging higher,” Leong points out.
Leong highlights that the S&P/Case-Shiller index, comprised of the 20 largest U.S. metropolitan cities, increased a better-than-expected 0.9% in June, representing the fifth straight month of increases.
Leong also points out that the marked improvement in the housing market is also showing up in the results of numerous homebuilder stocks.
He reports that “Toll Brothers blew away the consensus earnings estimates in its fiscal third quarter after reporting $0.36 per diluted share, double the estimate of $0.18 per diluted share.”
In the article, Leong does note that there are still some concerns towards the housing market; however, he expects housing to continue to improve, especially if the jobs market can get going.
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market... before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.
Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.
Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.