PowerShares recently came out with an ETF aimed at the red hot housing sector. It's the Building and Construction Portfolio trading under the symbol PKB. At first it seemed like a great way to trade a basket of homebuilders, but as you will see upon examination, it's much broader than homebuilding stocks.
Here is a good indepth article that talks about the broad makeup of the portfolio.
Beware Faults in Homebuilding ETF
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