Mad Money; Jim Cramer just called a bottom in U.S. housing.

lol for all the heat he's been taking lately, it's abby cohen the ultimate contrarian indicator.

that is because he called a june turn in september and he does not wqant to change his investment analysis....

Yay! Only two more years for Manhattan to stop falling!

Oh wait, forgot about that whole Wall Street got its ass kicked thing.

Just to be clear, he said most of the country's housing has bottomed and specifically excluded NYC. He was also very clear to explain that bottom does not mean going higher any time soon.

None of this should be taken to indicate that I think he is anything other than a clown but even clowns should not be misquoted.

Did he say bottomed or rising?

I can't believe he used a rise in U.S. housing starts and permits (off a record low from last month) as his reason for the bottom being in....amazing

Hey Cramer, if the bottom is in why did California just have to initiate ANOTHER 90 day foreclosure moratorium....if the market was so strong it would have been able to handle this inventory...

Moron

i agree -- cramer is the ultimate market caller -- sell sell sell

ok, last FEB Jim Cramer adamantly declared that bu summer 2008, we will have a shortage of housing supply and prices will bottom. That was 14 months ago. Anyone got the link or video from that call? I guess if you call for a bottom 4 times, eventually you will be right.

Cramer is the ultimate Bullshit TV cartoon.
I don't care what his investment history is. OK, he gamed the system and fleeced many out of their hard earned savings. Good for him. And now for his reward.................
1.Gets to count Spitzer as his best life time friend.
2.Gets to sleep with Abby Cohen (lot of good that money did him)
3.Gets to BOOYA on TV like a jerk and gets dressed down by the comedy styles of Jon Stewart.

The price you pay for being a non-introspective egomaniac cartoon character.
Too bad that money couldn't buy humility and self respect.

Can you tell I'm not such a big fan?

--------------------------------
Banks, Homebuilders Could Zoom on the Next Cut

By Jim Cramer
RealMoney.com Columnist
1/31/2008 2:01 PM EST

Banks and home shortages, these are going to be the two big stories of 2008.

Because we have taken out so much mortgage capacity and because the homebuilders have basically stopped building -- they are building one-quarter of the homes they did in 2006 -- we are going to run out this year.

That's right. The people who still own homes who bought then in 2005-2006 are hunkering down, they are spending less, going out less and not leaving their homes much so they can refinance and pay down debt and keep their homes. They are not going to be flooding the market with supply.

We know the homebuilders' inventories are no longer ballooning. We know mortgages rates are 5.18 -- I went onto BankingMyWay.com, which is owned by TheStreet.com, and found a 5.18 rate in my ZIP code. It's like Moviefone for rates. Count me in.

Meanwhile, the mortgage industry's been wiped out except a couple of players. Those are now presuming the monoline Gang of Four aren't going to pay. They have issued equity, but not enough to cover what I think will be a huge push into these value names.

Rates are too low, there won't be enough houses to go around soon, because there are no new homes and nobody left to sell them -- it is enough to make me think that the financials and the homebuilders, many of which are already up huge from when I called the bottom from the stress portfolio, will have a gigantic move off the next rate cut, and you need to buy any weakness.

And nobody owns them now but value funds, who simply will not sell them until they are much higher.

Makes me want to buy more Citigroup (C - commentary - Cramer's Take - Rating)!

Cramer is a buffoon!

Cramer is the same clown who told his viewers to buy Bear Stearns...a week before it collapsed!!!
His screamed about the 17% rise in housing starts as proof but let's dissect the numbers. These stats are from the free fall from September to March which was so agonizing all Cramer's hair fell out. We need more housing stock like we need another spike in interest rates that happened this week, along with more glut of new housing to hit when the We still have a Pay Option ARM and Alt-A mortgage problem. This will hit in full force in 2010 and we are already seeing many mortgage holders having trouble with actual recasts brought on by negative amortization. Builders took a chance that they can get their homes finished before $8000 tax credit expires in nov 09.....smoke and mirrors!

Bald Fuck......... sorry for all you folliculy challenged!

Cramer IS a housing bottom.