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Mark My Words: This Is the Housing Bottom

By Jim Cramer

 About this article:
 Uh oh, the big May foreclosure numbers -- the numbers for when many of the state moratoriums expired, the real sign of things. Bad? No. Good. We had 6% fewer foreclosures than in April, and the lowest since July 2006, according to Realtytrac, a very reliable outfit. This is another sign that the market for real estate is bottoming. You have to understand that a housing bottom is not about house price appreciation. It is strictly about house price stabilization, and that's what is happening all over the country. If it were house price appreciation, that would be good news for Lennar , Pulte , KB Home , DR Horton , Hovnanian and Toll . We do not have appreciation. Stabilization, on the other hand, is not good for them because the stabilization is at a level that is too low to build because sales are driven by...

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