Betting on the House

Sam Lieber's positions in the homebuilder stocks made him a big winner.Here's what Sam says about supply limitations:

Have some of these markets entered the irrational-exuberance phase? Not necessarily. The fundamental issue is the lack of much new supply. That explains why this isn't a bubble. The number of existing homes available for sale on a monthly basis, which accounts for 81% of the total home market, has actually decreased by 2% over the past 15 years. That's astonishing, considering the growth in population and in the number of households.

Kiplinger's