“Ladies and gents, it’s time to buy a house”


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Quoted from thestreet.com: ‘ "Ladies and gents, it’s time to buy a house," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.

He said his prediction last year that a bottom in housing is coming in just 105 days from now is looking better and better by the day.

Cramer again sang the praises of Federal Reserve Chairman Ben Bernanke for not only adopting many of the ideas Cramer has been preaching, but also setting up what he called a pending economic explosion.

He said with the Fed’s announcements today, Bernanke has single-handedly created the 4% mortgage rate that Cramer said would be needed to stabilize home prices and stop home price deflation.

Cramer also commended the Fed’s new loan programs that will help hedge funds buy up the now not-so-toxic mortgage backed securities. He said that these moves, along with the reinstatement on the uptick rule, and new mark-to-market accounting rules, are exactly what the banks, the markets, and the economy needs.

Cramer said he doesn’t care if these moves hurt the dollar, saying that a weaker dollar actually helps U.S. businesses compete in the global marketplace. He said it’s far better for the Fed to do too much, than too little.’

 Link to the entire article:

 http://www.thestreet.com/story/10474212/1/cramers-mad-money-recap-bernankes-fabulous-move.html?cm_ven=GOOGLEN

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