"I really believe that the industry has bottomed, that we're not going to see further crashes in home prices or in home sales," Rochdale Securities analyst Richard Bove tells CNBC this morning.
Are you serious?!? You, eh em...believe it?!?
Well, Dick, let's take a look at the fact that 3 of the 4 major housing indicators released this week are pointing south and the big one (existing home sales) isn't forecasted to show anything promising when it's released on Friday.
Give me a break, Bove! You can put lipstick on the pig all you want, but I find it hard to believe that your sudden belief system is worthy of acknowledging that the housing sector has turned around. Let me guess?? Are you trying to sell a property these days? Hmmm...I wonder.
All I'm saying, Bove, is I need to see some evidence that the recovery is in place. Analyst's believing and saying "I think" completely discredits the argument. Come up with some data and get back to us.
Talk to you,
Todd M. Schoenberger,
LandColt Trading, LLC