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What a Housing Bottom Looks Like

By Jim Cramer

 About this article:
 A housing bottom occurs when Toll Brothers says that cancelations are much lower, but earnings are, too. A housing bottom occurs when the major homebuilders combine because they can't make any money. A housing bottom occurs when there is so little money to be made building a new home because existing homes are so cheap that there's no new building going on. A housing bottom occurs when an $8,000 tax credit for a $200,000 home all but forces renters to be first-time buyers, even with a 6% mortgage -- and we are not even there yet. All of these things are what a bottom looks like, but people keep thinking that a maker of a $600,000 home is going to be able to call a bottom looking at his book. As much as I love Bob Toll, this whole move in housing is about increased affordability,...

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