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Salad days for home builders won’t last. Not a fan of home builder stocks. Building is a commodity business. Land appreciation/development is most of the ROIC. Housing shortage is mostly because people are failing to pair up. Square feet of housing per capita are at all-time high. https://t.co/PLhKfnQfNU Demand has nosedived since mortgage rates rose above 7%. Sales of new homes per community in September normally slow by 4% on average compared with August as the buying season winds down. They are down 18%. https://t.co/TYifaDf7u1