Comment by banku_brougham

I sense the labelling is a tell of sorts. As to the critique, I think the focus on homebuilder corporate profits leaves out important parts of the ecosystem. As example: Observing the only profitablity of Toys R Us as it collapsed would mislead you as to the very profitable exploit that KKR and Bain executed.

Its a great article though, lots of facts to ponder. Would love a view of the next layer up into financial arrangements in those Texas housing markets.