Wells Fargo & Co (WFC) Is Long on the American Dream

“I think it’s about jobs, about confidence, about feeling good about where things are going.”

At the macro level, Stumpf sees the housing market’s recovery as a function of a healing jobs market. Because the purchase of a house is so expensive and is generally funded in part with borrowed money, it’s logical that households with stable income (i.e,. a job) would be more likely to purchase.

The economics support Stumpf’s view. The April jobs report was resoundingly positive, beating expectations by 25,000 jobs and also including robust upward revisions to the February and March reports.

Too often companies will publicly say one thing while doing something entirely different behind closed doors. This is not the case with Wells Fargo & Co (NYSE:WFC). Not only is it in the media talking about a housing recovery, but it’s also putting dollars to work investing in one.

The article Wells Fargo Is Long on the American Dream originally appeared on Fool.com.

Fool contributor Jay Jenkins has no position in any stocks mentioned. The Motley Fool recommends Wells Fargo & Co (NYSE:WFC) owns shares of Bank of America Corp (NYSE:BAC), Citigroup Inc (NYSE:C), JPMorgan Chase & Co. (NYSE:JPM), and Wells Fargo.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.