Lumber Hits A New Multi-Year Today

Don’t believe the hype about the housing market. I have proof that most of the buying is coming from small investors/flippers and vacation home sales. I will be writing about this soon.
Oh, let’s not forget that Cramer recommended going long three homebuilders right as the DJUSHB (Dow Jones Home Construction Index) was peaking at 600. I have research reports on two of them that show he’s a complete moron.
How do we know that the housing market – especially new home sales – are collapsing. Well, nothwithstanding the fact the big homebuilders like Lennar are trying to lease out new homes in communities in which sales are approaching zero (LINK), the price of lumber has hit a multi-year low today:
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