Good morning, Some economists talk about the “wealth effect.” This is a behavioral economic theory that suggests people buy more when the value of their assets is on the rise. This wealth effect is generally tied to stocks, but it also applies to assets like homes. And since 2020, some homeowners have been feeling pretty wealthy. Home values are at record highs. Many sellers received multiple offers on their homes for higher than their listing within days or even hours. Some of these were sight unseen and without contingencies. Sweet! The principles of supply and demand – along with higher interest rates – has reduced the supply of existing homes. But that’s creating demand for new constructions. Housing starts are volatile, but remain mostly bullish. All of this illustrates just how important the housing market is to the overall economy and to investors’ portfolios. While it may not be time to sound the all clear on the housing market, it does show why now is still a good time to be looking at housing stocks. Housing stocks encompass a range of companies including homebuilders as well as home furnishing companies, home improvement companies, and adjacent industries like lumber and other construction-related stocks. The focus of this presentation is on seven housing stocks that continue to show strength in a challenging environment. In addition to looking at several homebuilders, this presentation looks at several companies that have businesses that are adjacent to the homebuilding market, but still look to provide investors with solid gains in 2023 and beyond. View the 7 Housing Stocks that You Can Build Your Portfolio Around Don Miller
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