A pretty upbeat perspective on the housing market from Jim Cramer, who when last seen was bashing homebuilder stocks. He’s doing the same kind of root analysis that we do here at Frothing Developer
- 865,000 new homes purchased normally.
- Lots of pent-up demand.
- Price matters, and the price drops are having an impact.
- Federal action to prevent foreclosures
- April sales are up over March because of these factors
- Typical bad 2/28 loans are coming to an end. Last quarter of 2006 was the end of those. By end of 2008, those loans will all have reset.
“Why no one thinks these things matter is beyond me”.
“How anyone could think things could get much worse is beyond me and flies in the face of reality….This is coming to a conclusion….maybe less than a year.”