I shorted a few housing stocks last year and then booked my profits (obviosly left tons of money on the table). I am thinking about getting back in on the short side but am worried I'm arriving late to the party (HOV has 13% short Interest). The housing market as a whole seems to be getting weaker due to higher interest rates even though some recent housing data has come in strong. Here is a chart of JOE. How much more down room is there really to go untill value buyers step in? <a href="http://tinypic.com"><img src="http://i1.tinypic.com/x4rsqp.gif" border="0" alt="Image and video hosting by TinyPic"></a>