Indexes Drop One Percent, most Tracked Housing Stocks Follow

Investors’ fears of political gridlock regarding the upcoming ‘fiscal cliff’ that could put the U.S. economy back into recession trumped a drop in first-time unemployment claims as well as a trade deficit that narrowed to $41.5 billion instead of expanding, putting the indexes in the red for today. CNNMoney reports the Dow Jones Industrial Average lost -0.94 percent, dropping -121.41 points, to close at 12,811.32. The Nasdaq moved down -1.42 percent, -41.71 points to close at 2,895.58, while the S&P lost -1.22 percent, -17.02 points to close at 1,377.51. The Yahoo! Finance Manufactured Housing Composite lost -0.58 percent to close at 1149.2. All but one housing stock we track closed down or even. Skyline Corp. was the only gainer of the stocks we follow, moving up +0.70 percent, + 0.03, to end the day at 4.33. Drew Industries fell the most of tracked stocks, -2.31 percent, -0.74, to finish at 31.33. Affiliated Managers remained even at 124.62. Cavco Industries 46.31 -0.67 (-1.43%). Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway 126,900 -1,459 (-1.14%). Champion, Liberty Homes, Deer Valley and Palm Harbor all remained unchanged. Equity LifeStyle Properties 67.25 -0.79 (-1.16%). Louisiana Pacific Industries 15.82 -0.16 (-1.00%). Nobility Homes remained unchanged at 5.35. Patrick Industries 19.04 -0.12 (-0.61%). Sun Communities, Inc. 40.75 -0.74 (-1.78%). Third Avenue Value Fund (Nov. 7) 48.11 -1.09 (-2.22%). United Forest Products, Inc. 37.08 -0.77 (-2.01%). UMH 10.00 -0.18 (-1.77%).

(Graphic credit: CNNMoney and RealTick)

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