Nice positive mesage from Jim Cramer. He points to lower cancellations and pent-up household formation.
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Well, CNBC keeps telling us Cramer called the beginning of the mess. Why shouldn’t he get to call the end?
He’s got more credibility than Lawrence Yun.
Jim Cramer does not know the end. Jim’s a lucky stock picker that rode the dot com wave into a celebrity career. He could have been a SNL guy. I wouldn’t invest 2 bucks with him.
What’s important about Cramer’s call isn’t whether he called the bottom to the day, but that he’s made the call at all. When someone who was a bearish on housing as Cramer starts looking at the positives, it’s is an important indicator.
Right or wrong, he has a huge following, and calls like this are the precursor to the rest of the media picking up more of the same.
By the way, while Cramer may have ridden the dot com wave into his “celebrity” career, he is hardly, a “lucky stock picker”. His hedge fund beat the indexes handily and consistently for many years, well before the late ’90s.
A monkey could beat the indexes in the 90’s the numbers were all bs. Kinda like real estate values in Las Vegas 2004-2006. 300000 for a 1600 square foot stucco box is a joke. Home values must have some relation to average salary and rents. Read Peter Yong’s article this week in La Times with economist Christoper Thornberg.
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