The Housing Chronicles Blog: Jim Cramer predicting housing bottom

Thursday, September 18, 2008

Jim Cramer predicting housing bottom

Cramer: 'We're all communists now!'
Cramer: 'We're all communists now!'

Yes, Jim Cramer can seem crazy (can you imagine his pillow talk?). And yes, his stock picks can seem goofy. But the guy does know his markets, and he now thinks that things have gotten SO BAD (i.e., businesses failing plus numerous write-downs) that we're nearly at the end of our economic malaise. Even better, he says that builders are reporting fewer cancellation rates, which could either mean (a) buyers are going through with home purchases without needing to sell existing homes or worrying about future price declines; and/or (b) buyers aren't even thinking of signing sales contracts unless they're fully committed to the process. From an MSNBC video.

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