Independent: Housebuilders could yet be stock market stars

Outlook: Ursine investors might be missing a trick. The shares of nearly every housebuilder trade at sharp discounts to their net asset values at the moment. Yesterday the market marked down shares in Bovis Homes, despite the company's return to profit, resumption of dividend payments and the way it has been able to run around adding to its land bank at some very attractive prices. Sentiment is all, in the current market, and sentiment towards housebuilders is rotten. But it is worth noting that Britain continues to suffer from a housing shortage, particularly in the South East. At current levels, housebuilders' shares could prove to be extraordinarily cheap.