Lately, various housing-market metrics such as existing-home sales, new-home sales, and mortgage applications have all been flagging. We also recently learned that the U.S. homeownership rate was at a 19-year low.
DoubleLine Funds’ Jeffrey Gundlach thinks ownership rates won’t come back any time soon.
At last week’s Altegris Strategic Investments Conference, which was co-hosted by John Mauldin, Gundlach reiterated his opinion that investors could do well by shorting the homebuilders via the SPDR S&P Homebuilders ETF (XHB).
He gave a presentation that was similar to the one he gave at the Sohn Conference in NYC, but the updated presentation is longer by almost 20 slides.
The deck is loaded with charts on housing and debt, and they should be considered carefully by anyone who cares about the housing market.
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