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XHB and Fidelity's FSHOX, and likely other related funds have moved quite a bit in the last two days. This area was down 2-2.5% last Friday, with FSHOX recovering 2% on Wednesday. Might be a bit late to make any moves with these; although I thought XHB would have some profit taking today (Thursday). Some of the main holdings are Home Depot, Lowe's and related with other holdings mixes, too.
In terms of a (very) partial play on housing, STWD has been buying foreclosed homes ("Through his publicly traded Starwood Property Trust Inc. (STWD), Sternlicht has been buying foreclosed homes to rent as he waits for greater price appreciation. Through his private equity firm Starwood Capital, he also has been “actively” acquiring apartment properties since the beginning of 2010 to capture the growth in rental demand, said Chris Graham, a managing director of Starwood Capital, based in Greenwich, Connecticut." http://www.bloomberg.com/news/2012-10-03/sternlicht-hedges-bets-as-buying-tops-renting-mortgages.html)
I don't own STWD. It is run by Barry Sternlicht, former CEO of Starwood Hotels. It yields over 7%.
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I don't own STWD. It is run by Barry Sternlicht, former CEO of Starwood Hotels. It yields over 7%.