back in summer jim cramer said that bac,c,jpm,wfc were safe and indestructible blah,blah.
Well 2 of them have been blown out since that declaration and wfc might get smashed further if the non subprime real estate starts getting wacked from all the layoffs that are happening here in California.Beleive me any residential real estate in non subprime is obscenely over valued still.Try 500k for a 1000 sq ft shoebox made of chickenwire and stucco built in the 1950s.
Cramer also had this countdown clock to the bottom of the real estare market in june of 2009.Does he still have that clock/countdown?Anybody think the bottom in RE is 5 months away is frikkin koo-koo.
Well 2 of them have been blown out since that declaration and wfc might get smashed further if the non subprime real estate starts getting wacked from all the layoffs that are happening here in California.Beleive me any residential real estate in non subprime is obscenely over valued still.Try 500k for a 1000 sq ft shoebox made of chickenwire and stucco built in the 1950s.
Cramer also had this countdown clock to the bottom of the real estare market in june of 2009.Does he still have that clock/countdown?Anybody think the bottom in RE is 5 months away is frikkin koo-koo.