Jim Cramer: Buy A House Now, Calls Housing Bottom

Jim Cramer recently appeared on TheStreet.com TV and was certain of one thing: now is the time to buy a house. Cramer, whose stock picking record has certainly drawn its share of criticism, couldn't have been more sure of his call here, saying "I am frantically trying to buy multiple properties right now."

Cramer went so far as to call a bottom to the housing market. His words: "This is patently obvious." Watch the full video here:

Comments

[NYC123]

08:36 AM on 07/03/2009

this is not a big move to Americans to buy a house at this time. He is not going out on the llim!

[wordvarc]

10:38 PM on 06/12/2009

Remember Cramer screaming and crying to buy stocks the end of last summer?!

[PlasmaX]

02:32 AM on 06/07/2009

Cramer is either ignorant of the facts or lying.

[ibwilliamsi]

01:43 AM on 06/06/2009

He also told us last August that the economy was strong and anyone who disagreed with him was a socia list winer.

[dengal]

11:57 PM on 06/05/2009

he is the definition of irrelevant

[Winthorpe]

11:24 PM on 06/05/2009

That's great, Jim, but I'd need to pay B of A first to sell my house -- if they'll loan me the money. How does that help me?

[foxbat]

09:12 PM on 06/05/2009

Think I'll wait to see what Stewart and Colbert have to say ... or perhaps the homeless guy on the corner ... anyone but Jim "Mr. Obvious" Cramer.

[NPA]

09:11 PM on 06/05/2009

Buy a house with what?

[ktdowner]

08:49 PM on 06/05/2009

Any day now Cramer will predict Gm is not a good investment and maybe heading for bankruptcy.

[Housewife]

07:39 PM on 06/05/2009

The message is clear. Wait to buy as housing has not bottomed.

[grey sells]

07:32 PM on 06/05/2009

Who is Crammer's audience? Lot's and lot's of folks cannot afford the house they have. Lots and lots of folks have seen their house values go down, the IRA's tank, saqvings gone, etc. These folks are not deadbeats. They are average Americans who are working hard and trying their best in an environment of Darwinian economics where a small number of other people hold all the cards and have the money to lobby politicians and the money right now to invest in new homes, upgrades, and stock investments at bargain prices. So to whom is he addressing his comments? People who made money during the crash? Are they a large group? Can they turn things around?

I'm an old fashioned chump who saved and paid down all debt, Invested conservativily and I got burnt by companies failing to disclose to retail investors the risks they were taking with our money and the amounts they were paying themselves. Mr. Cramer, do you remember pushing Countrywide? I did not follow your advice then. and I really don't think you understand yet the Moms and Pops and their life savings. We were fish in a barrel for people like you. Talk to the hand.

[ktdowner]

08:46 PM on 06/05/2009

Good call, Cramer seems to not understand that that middle class america got hosed by people like him and will not be in the market for another hosing for quite a while.

[stagebandman]

06:49 PM on 06/05/2009

Thank you, Mr. Obvious.

And I'll be sure to sell my GM stock, too.

And pay off my credit cards.

[ECB]

06:35 PM on 06/05/2009

Dude - No one cares what you think !

[jamesdaddio]

05:41 PM on 06/05/2009

how does 8,000.00 compensate for 1/2 % over 30 years this could amount to over 50,000.00 8,000.00 doesn't effect a thing.

[charitabledonation]

05:26 PM on 06/05/2009

I think Jimmy boy is a misanthrope. I wouldn't trust him as far as he would land.

The only bottom we have now is the one leaving skid marks. We've got a few disaterous years ahead.

How to tell we're at bottom: Interest rates will be at an all-time high and prices of houses will drop well below year 2000 bubble prices.