This Is What a Housing Bottom Looks Like By Jim Cramer About this article: Housing bottoms form when homebuilders finally stop building. They come when permits dry up. They come when foreclosures are so many that they drive down the prices to affordable levels. Housing bottoms come when the homebuilders give up and merge. They come when mortgage rates go really low. They come when unemployment claims level out. The bottom, well, now. We are seeing a huge wave of buying of foreclosed homes in Northern and Southern California and in Florida. The numbers are too positive to think that these, the hardest-hit areas, aren't putting in long-term bottoms. Of course, where legacy housing is coming on, most notably in Florida and Las Vegas, where lenders like Corus Bank abetted ridiculous levels of condominium construction, or New York, where the economy was on fire, courtesy the brokers and the lawyers and the foreign tourists taking advantage of a cheap dollar,... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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