This rare bear who called the crash warns housing is too hot again

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This item by Prashant Gopal for Bloomberg crossed my desk and may be of interest to some clients. Here is a part of the article: When real estate investors get this confident, money manager James Stack gets nervous. US home prices are surging to new records. Homebuilder stocks last year outperformed all other groups. And bears? They are now an endangered species.

Stack, 66, who manages $1.3 billion for people with a high net worth, predicted the housing crash in 2005, just before prices reached their peak. Now, from his perch in Whitefish, Montana, he says his “Housing Bubble Bellwether Barometer” of homebuilder and mortgage company stocks, which jumped 80 percent in the past year, once again is flashing red…

You can read the rest of the article HERE. 

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