The home starts numbers are not a positive!

Putting into words our own reaction to the positive spin on the latest HB stats:

"This is a BAD thing for homebuilders! This is a BAD thing for extant housing inventory looking for sales! This is a BAD thing for banks trying to move REOs! Basically, this just more supply added to a glutted market. For those who even consider buying the builders or banks on this news, caveat emptor! The homebuilders are at a historical low in terms of sentiment - do you think they are lying to themselves?"