Housing Stocks Good For Long-Term: CNBC

Quite unexpectedly, housing prices fell in March. In an interview with CNBC, Buck Horne, housing analyst at Raymond James, said, “We’re a little concerned about the direction prices are headed, given that these are lagging indicators before we even get to the tax credit peak, which was in April.” He further added that housing market is expected to remain shaky for a few more months.

Meanwhile, Michael Cuggino, president and portfolio manager of Permanent Portfolio Funds, said that investors can still make money on the home builder stocks. He said, “It’s best for long-term investors that have a stomach for volatility, that’s not looking for a pure upwards swing, but can bounce around for a bit and pick longer-term stocks.”

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