Homebuilder ETF And Economy In A Slump
December 29th at 1:01am by Tom Lydon
Investors who own the SPDR Homebuilders (XHB) exchange traded fund (ETF) may be disappointed in the housing slump. In the third quarter the economy expanded a mere 2%, bogged down by the worst decline in construction since 1991. According to Seeking Alpha the GDP figure fell short of expectations. Recent reports show sales of new homes rose higher-than-expected in November, but were down 15.3% from a year ago.
