This is just beyond ridiculous.Jim Cramer is off his meds again.
This time he’s calling for a HOUSING SHORTAGE IN 12 MONTHS.
“If we get any tick up… I’m predicting a housing shortage and a bank stock shortage… right here…”
“I’m telling you there will be a housing shortage a year from now…”
“…I tell you to burn your house down, now I’m telling you to build one.”
How the FUCK does Cramer have a show on CNBC? I admit, watching him rage IS entertaining… but come on! You WILL DO YOUR ASS listening to this clown.
He got all caught up in the SHORT COVERING rally in the home builders.
Charts from Calculated Risk.
December Existing Home Sales
Posts
4 comments:
Nice work, keep it up!
BTW, Cramer is an A$$ clown. Smart guy, but he's bending over for the banks. Buy homebuilders??? Housing shortage? What a shill!!!
What I know about financial markets and such is about equal to that huge negative borrowing number on the fed site. I am trying to learn some with all these posts. I did get about $100K into cash in my funds/401Ks back at the high in Oct/Nov 07. Now, I'm just waiting. What I've always tried to do and more so now is have as little debt as possible. My wife and I are working to pay off our suburban house in a little over 2 years (to maintain mortage, we have the third cheapest dwelling, a condo, in this high end neighborhood of houses in this big southern city). My wife and I make about $100K combined, live very frugally, pay our credit cards each month, have no cable, use rabbit ears, shop at thrift stores, and have 10+ year old cars. Yes, we're a "drag" on the economy, but as long as there are consumers, we'll keep being us.
Cramer is correct. Under the President Obama "Full Employment and Real Estate Market Recovery Act" unemployed Americans will be hired to pack up all of the abandoned, foreclosed US homes to be hauled off on flatbeds and shipped to the rising Chinese middle class. This will create millions of American jobs and in 3 years there will be no more unoccupied US homes. The empty lots where the homes used to stand will be turned into corn fields for ethanol.
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