Wednesday, April 8, 2009

Merger in the Home Industry

Pulte Homes to Buy Centex for $1.3 Billion in Survival Bid

This is the first real sign of a bottom that I have seen. I know, it is a relatively small trade because Centex stock is down 70%. But two companies were able to agree on a future valuation for home building. They could be right, they could be wrong. What is important is that the process has begun.

Forget all of the other false positives, here is your green shoot.

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