The Rising Influence of Rising Affluence

[DewDiligence]

Re: WY /US housing market

WY only marginally lowered its forecast for 2018 housing starts from 1.3M to “slightly less than 1.3M.” Moreover, WY continues to expect an increase in 2019 housing starts relative to 2018.

Based on today’s price action (now -10%), investors apparently aren’t buying WY’s outlook. One reason for investor skepticism: downstream pricing (lumber, OSB) has dropped precipitously during 3Q18 and WY is forecasting continued low realizations in 4Q18.

--
For the long-term, I still like WY for the reasons outlined in #msg-144353853, although today is probably not the best day to argue my case, LOL.