日期:2013/08/30
One notes that real estate stock prices have declined about 30% from recent highs in line with the increase in mortgage rates. One believes that big collapses in stock prices in markets around the world have to an inordinate extent been preceded by big declines in housing prices. The housing prices have not declined but the real estate stock prices which presumably are signaling same have. It would be interesting to test whether there is a negative predictive correlation between housing stocks prices and the S&P composite. All the statements in my note should be tested.
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