9/20/2016
By Charles Payne, CEO & Principal Analyst

The National Association of Housing released its Housing Market Index, which saw a surge in optimism that dovetails with other signs of momentum for housing. The west led the way with a giant improvement, and all facets of the report moved significantly higher.

The Philadelphia Housing Index (HGX) was higher on Monday, but it’s been really sloppy and uninspiring of late.  I don’t like the structure of the index’s holdings, which is why you must make your portfolio the ultimate fund. The chart speaks to a more worrisome problem for the sector. This week must change because higher rates generally don’t help these stocks.

Charles Payne
Wall Street Strategies

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