Yes, I’m hoping for just a 5 to 10% gain overall on these, not trying to get rich. I sold short at what I thought was the top of one of the snap-back rallies you described, but it climbed a bit against all reason, mainly because bulls think housing has hit the bottom and they are getting deals. Personal experience tells me otherwise: I have one friend who is getting kicked out of his rental because the owner has lost his home, another friend who is considering walking, and a contractor/builder acquaintance who is ready to go bankrupt and willing to take work at 1/4 the fees he charged in the boom times. So I’m going short on builders and materials.
