Cramer on Housing: Down 20%? Walk Away

My friend Jim Cramer has some strong stuff on the housing market in a recent spot:

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Comments

  1. John Singer says:

    Cramer says burn your house down and put your money in tech. If history is of any value, we’ll follow his GOOG recommendations. The track record is quite impressive – http://www.stocktagger.com/2007/07/jim-cramer-google-inc-goog-track-record.html

  2. Paul Malin says:

    Just last september in Real Estate Economics class (in MBAschool) we actually debated the housing bubble. I love how Cramer has now sold everything! But what does this mean for Canada where prices are holding?

  3. a says:

    It’s a joke people.

  4. MPH says:

    So:
    If your equity in your house is 100%, and it’s down 20%, sell?
    If your equity in your house is 10%, and it’s down 20%, sell?
    It’s not clear what he’s saying. I love Cramer – he is indeed very smart, and quite a character. But it seems to me that he’s being a bit over-prescriptive here, without enough context expressed in his strong guidance.
    Finally: “I’ve sold all my real estate”. Does this include his primary residence? Does this include his vacation house (if he has one?) Or is he saying that he has sold all his OTHER real estate? (So, is he renting his house, or does he own it?)
    I do believe that he may be closer to right on the 2/28 conversions; more like 90% lost than 50% (Cramer says 100% lost).

  5. RE man says:

    He forgot to mention Seattle w/ a still hot housing market.
    If you add back the various hot/warm markets, its not all bad. For a national homebuilded, yes, sell the stock. For person owning in good markets, the disaster in florida condos doesn’t necessarily impact you at all

  6. dub dub says:

    Love all the “Related Videos” for Seinfeld’s “Kramer”.
    Yeah, that’s some smart algo. the google/youtube folks have implemented!