Cramer – Housing to bottom in 309 days, we need to nationalize fannie and freddy ASAP

[hipmatt]

http://www.cnbc.com/id/26406036/site/14081545/

Saw this on mad money today. Take a read for what its worth.

The economy will never recover if housing doesn’t find its footing first. But when will that happen? Cramer said he expects a bottom by the third quarter of 2009.

[poorsaver]

Cramer, Shamer. The best contrary indicator there is.

[poorsaver]

Cramer, Shamer. The best contrary indicator there is.

[poorsaver]

Cramer, Shamer. The best contrary indicator there is.

[poorsaver]

Cramer, Shamer. The best contrary indicator there is.

[poorsaver]

Cramer, Shamer. The best contrary indicator there is.

[Arty]

I want him to eat the counter in 309 days…

[Arty]

I want him to eat the counter in 309 days…

[Arty]

I want him to eat the counter in 309 days…

[Arty]

I want him to eat the counter in 309 days…

[Arty]

I want him to eat the counter in 309 days…

[cr]

I saw this last night. CNBC is making similar claims here: http://www.cnbc.com/id/26390675

People still clearly don’t understand the market. All these claims of a bottom due to pent up demand are unfounded and ignore the fact that in order to buy a house you have to be able to afford a house, i.e. have stable and adequate income, and now a down payment and willing lender. People are tapping their 401k to pay bills – you think they have $100k to jump into a declining RE market while there is simultaneously a declining job market?

Right, and there was no subprime spillover.

[cr]

I saw this last night. CNBC is making similar claims here: http://www.cnbc.com/id/26390675

People still clearly don’t understand the market. All these claims of a bottom due to pent up demand are unfounded and ignore the fact that in order to buy a house you have to be able to afford a house, i.e. have stable and adequate income, and now a down payment and willing lender. People are tapping their 401k to pay bills – you think they have $100k to jump into a declining RE market while there is simultaneously a declining job market?

Right, and there was no subprime spillover.

[cr]

I saw this last night. CNBC is making similar claims here: http://www.cnbc.com/id/26390675

People still clearly don’t understand the market. All these claims of a bottom due to pent up demand are unfounded and ignore the fact that in order to buy a house you have to be able to afford a house, i.e. have stable and adequate income, and now a down payment and willing lender. People are tapping their 401k to pay bills – you think they have $100k to jump into a declining RE market while there is simultaneously a declining job market?

Right, and there was no subprime spillover.

[cr]

I saw this last night. CNBC is making similar claims here: http://www.cnbc.com/id/26390675

People still clearly don’t understand the market. All these claims of a bottom due to pent up demand are unfounded and ignore the fact that in order to buy a house you have to be able to afford a house, i.e. have stable and adequate income, and now a down payment and willing lender. People are tapping their 401k to pay bills – you think they have $100k to jump into a declining RE market while there is simultaneously a declining job market?

Right, and there was no subprime spillover.

[Author]

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