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Upbeat Housing News for a Down Day

By Jim Cramer

 About this article:
 We can use some good news on a bad employment day. So here goes: Fewer homes will be built this year than were built in 1990 -- 440,000 -- yet we have 60 million more people in the country. Each year roughly 860,000 new households get formed in the country, almost double the number of new homes. Soon the price of mortgage money, the single biggest determinant of home buying, will be one-third less than it was two weeks ago. Yet nobody believes we could have a rally in housing in 2009. Nobody. I have received more scoffing about my June 30 bottom than about just about anything, other than my call to sell 20% of your portfolio when the Dow was at 11,000. Frankly, I don't understand how we can not bottom, given those circumstances and the dramatic decline in home prices. When you...

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