Moody's expects to downgrade some major homebuilders in 2008.
The 2008 will be less severe than 2007 because "ratings already reflect the industry's challenging conditions."
For those who think we are at the bottom, we are only starting to dig. It is going to be a long way before we bottom out.
Of course, you will have analysts like Daniel Oppenheim - an analyst at *Banc of America* upgrading the homebuilder stocks.
Is it just a coincidence that it came a few days after BZH signed a deal to reffer mortgages to CFC? If you want to buy the stocks then go ahead. But please do not do it blindly because someone upgraded the stock!
http://biz.yahoo.com/ap/080205/homebuilders_ratings.html?.v=1
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