[Sniper]

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I have looked at that, but the puts themselves are very expensive and cut heavily into your potential profit. The stock has to drop a tremendous amount before you make a profit. Though perhaps builders and mortgage lenders' prices will collapse so dramatically over the next 2-3 year that you will profit, even after the cost of the put.

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If you believe that we are in a bubble and its about to burst, the cost of put insurance as a hedge is cheap. If you are worried about the insurance cutting into your potential profits from continued home value appreciation, then you must not think the bubble is about to burst.