If mortgage rates are really high and we are in the middle of a correction (potential recession), why are these residential construction stocks shooting up as if like the FED did not raise mortgage rates?
I thought the housing industry was slowing down, whats going on? Do you all thinks it makes sense to short here, maybe the stock market is making a mistake? I personally dont understand why these stocks are back up so much when people will have a hard time buying new houses.
Any explanations/thoughts are welcomed. Keep in mind mortgage rates right now are at a whopping ~7% for the 30 year.
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