PulteGroup Has Calamity Priced In (NYSE: PHM)

• The most well managed home-builder now trades at bargain basement levels.
• Shares have overshot to the downside, even accounting for the fact that the housing market is not going to immediately bounce back when the economy reopens.
• The 50%+ drop in the last couple of months is close to the decline PulteGroup shareholders experienced in 2007 right before the Great Recession.
• Debt levels appear manageable and the balance sheet should allow Pulte to weather the storm and eventually return generating attractive free cash flow.

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