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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
TED DAVID, CNBC ANCHOR: Existing home sales data out this morning shows sales down in February, but homebuilders` most recent earnings reports are still strong. Will the real estate market continue to climb, or is the roof about to collapse? Joining us is Dana Richardson, homebuilder analyst with Argus Research, and Jerry Howard, chief executive officer of the National Association of Homebuilders. Gentlemen, nice to have both of you with us.
Dana let me start with you. The earnings are very good for almost all these builders. They even rallied yesterday despite the Fed. But are they all too pricey. You say you have to buy into a "new era" mentality to be a bull. Explain that.
DANA RICHARDSON, ARGUS RESEARCH: Well historically, the price-to- earnings...
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