Stifel Nicolaus analyst Dave Lutz made an interesting observation in a brief note today – homebuilder stocks, as measured by the iShares Dow Jones US Home Construction Index Fund, have staged an even more impressive rally than gold since the financial crisis.
Lutz is looking at each asset's current price since its trough in the wake of the financial crisis.
Gold troughed on October 23, 2008, and has rallied an impressive 151.9 percent since then.
The index of homebuilder stocks troughed about a month later, on November 21, 2008, and has since returned a whopping 177.9 percent (of course, the drivers had more to do with the general rise in stocks as opposed to an improvement in housing).
Check it out:
Lutz was on CNBC earlier, and he said in his note that he wished he had this chart with him when one of his fellow guests was pounding the table about gold's return since 2008.
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