Friday, March 28, 2008

The Perfect Negative Indicator?

by Ken Houghton

Jim Cramer's column in Metro this morning was singing the praises of Toll Brothers and Ryland, another homebuilder. So it is probably only right that CR finds this:
The little bit of good news was KB Home's cancellation rate improved slightly (similar to other builders):

The Company’s cancellation rate improved to 53% in the first quarter of 2008 compared to 58% in the fourth quarter of 2007.

After his BSC call, I didn't think there was anywhere else for him to go. But clearly he's "Workin' in a Coal Mine":

Workin' in a coal mine
Goin' down down down
Workin' in a coal mine
Whop! about to slip down

Added: A Yahoo! Finance graphic for the optimists who think there may be more to Residential Housing than the general market:

Just for giggles, here's the three builders, over the past year, vs. the S&P500 Index:

UPDATE: My Loyal Reader, whose sense of time comes from a Mark Thoma link, recommends "the original" video.

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