[quote=UCGal]Cramer’s an idiot. But we knew that.
Unfortunately, the financial media seems to be focusing on very short term things.
The article linked says that there is a 17% increase in housing starts compared to last month. It fails to state that it was down 45.2% from May 2008. That is NOT good news.
It’s like all the focus on the 2nd derivitive… the economic indicators are contracting at a slower rate… They’re still contracting but if you listen to CNBC, Bloomberg, etc crowing aobut it you’d think we had growth rather than contraction.
Cramer’s one of the leading idiots… but there are plenty of idiots following behind him.[/quote]
Actually I cannot figure out why any builder is building anything in the T.V. if they cannot turn a profit (or at least not enough to make it worth all the head aches).
Building in Socal is way down so I look at this as a positive for home prices in the future (here, near or not so near). They should (or I would at least) be building zero homes at the moment I would think.
If they want to lose money they could build schools for free or something but I digress.
At current rate of production we will soon be in a housing shortage in a lot of Socal area’s within say 5 or so years (I know that is hard to think about currently)
I am still sticking with close enough to the bottom for all of T.V. myself.
