MKM Partners is cautiously optimistic on the homebuilding sector heading in to the spring selling season.The brokerage expects homebuilders as possible, but not guaranteed winners, under Donald Trump's presidency, with lower taxes and regulations. At the same time, the sector needs to deal with potential higher rates and an increasing shift to service the lower end of the market.Investors perceive that homebuilders should benefit from potential lower corporate tax rate due to their high GAAP tax rates. But, the benefit would vary according to the deferred tax assets of each builder.Source