Prices fall with rising interest rates. If your home was worth $450K at a 2.5% mortgage rate, it’s worth $280K at 7%.
Mean reversion on that going to be rough! Pulte owns 38 million shares of $PHM or around 19% of the company stock. Imagine how much he borrowed from the bank using his stock as collateral. This is why Pulte is sperging out 40 times a day on twitter. His family fortune is on the line …
