Jim : Cramer:"Housing Will Bottom June 30, 2009"

is he kidding me! now he says housing will bottom;i would be a bit impressed if he made this call in 2006 but to make it now after housing already got hammered.
he also said don't buy tech after the nasdaq plummeted;where was he in november of 2007 when the market double topped? he was telling everyone to buy at the peak. the guy cannot trade.he knows about the market but knows noting about trading.
oh yeah,he claims to be from philly. he is from a wealthy suburb of philly. i guess he's trying to act like a rags to riches story.
 
No fan of JC, but he's from Springfield, which was and is a middle class (I'm being charitable, it leans to lower middle class) suburb of 1950s housing, crappy strip malls, and lots of traffic.
 
If the 1990's is a yardstick then housing is close to a "bottom" but can be expected to trade sideways for years. A Los Angeles home purchased on the 1987-89 highs didn't rally back to breakeven until 2001......
 
I feel real SORRY for that prediction, my prediction is still in play, no bottom until at least 2012-2013, then just a housing market that goes no where for another decade. You have to be an IDIOT to believe a housing bottom is near, there is another 10-30% drop to go followed by no growth or increase in prices for years, anyone rushing into the market to buy because they think prices are going higher is a fool. With unemployment rates rising and over 11 Million people out of work there are plenty of houses coming back on the market, just wait until June 30th to see how cramers prediction DOES NOT COME TRUE.

Not bottom for at least 3 years
 
Quote from Pa(b)st Prime:

If the 1990's is a yardstick then housing is close to a "bottom" but can be expected to trade sideways for years. A Los Angeles home purchased on the 1987-89 highs didn't rally back to breakeven until 2001......
More...

Except it's the 1930s that is the yardstick :)
 
Cramer is such a tool. Notice how he is making a long-term forecast and calls it down to the day.

Someone should ask him if it would happen by 1:30 PM or 1:43 PM on June 30th? :D
 
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