Jim Cramer Media Shill or Housing Whore?
On December 17th, 2008 Jim Cramer pronounced that the housing bottom will be in by June 30, 2009.
Well, I now have another contrarian point of view to proffer: The converted bears, as well as the panicked sellers desperate to bail out and nervous buyers afraid to jump in, will be dead wrong nine months from now, when housing prices bottom. In fact, I’ll call the precise date of the housing-market turnaround. It will begin on June 30, 2009.
In 2007 housings subprime market was just beginning to melt down all the while candidates were proclaiming that ours was a strong economy, and the Fed chairman was stating that subprime was contained, and there was no spill over into the broader economy.
These are the experts and yet they have been wrong at almost every turn. Listen to these asshats at your own peril. The government, media and banks are lying to you.
Take the jump to look at some numbers.