Standard Pacific: The First Major Homebuilder to Go?

Keep in mind that, 3-4 of these homebuilders are technically bankrupt already, and they are only “alive” because the banks keep changing the terms of their lines of credit and covenants. These are all great short candidates as well (there is no homebuilder short ETF either), and this time I’d ride a few of these to $0. Why, because that’s where they are heading, short of some white knight acquisition.