By Prashant Gopal | Bloomberg Markets
When it comes to the U.S. housing market, James Stack could be forgiven for thinking he’s a seer.
Like other investors, Stack, who manages $1.3 billion for people with a high net worth, watched housing stocks surge last year. An S&P index of homebuilders jumped 75 percent, about four times as much as the stock market as a whole, as home prices kept rising.