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Looks like the homebuilding group is finally taking off. I've just bought Contl. Homes [CON] and US Homes [UH]. My question is why are the PE ratios so ridiculously low in the home building stocks. UH's PE is 8.66 as of this morning. Even General Motors has a higher PE than that. With interest rates quite low (historically) and probably heading lower, I would think that the home building group would be getting more attention. Am I the lone ranger here?
UH seems to be positioned in the right part of the country. If they hit their consensus earnings of $4.45 next year I see a $45/share price.
Are there some better bets in the home building area?
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