The housing market has undergone a remarkable recovery over the last year as home prices increase, inventory falls and mortgage applications rise. The second theme of our Q1 2013 Global Macro Themes call is long housing (aka #HousingsHammer) and we're confident that recovery in the market will not be short-lived.
As a result of the positive recovery in housing, regional banks like TCF Financial (TCB) also stand to benefit from the improving nature of the market.