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Housing Starts Are a Step in the Right Direction

By Jim Cramer

 About this article:
 The crosscurrents in banking and homebuilding are so difficult that it feels like a riptide. But perhaps the good news is that there are crosscurrents. In other words, until this week we only had bad news: a run on IndyMac, the near-collapse of Fannie and Freddie , the precarious nature of Washington Mutual , the possibility that we could have many regional banks shuttered. The end of the monolines. All of those could still happen! But what we have seen this week is a chance for the companies to issue equity, the "positives" that Wells Fargo and JPMorgan and Northern Trust and State Street and Schwab and Ameritrade are better. JPMorgan had some positives to say about HELOC, but that's just dross. The company said that prime mortgages are breaking down. Badly. Dimon said it is a dramatic...

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