Housing Will Bottom June 30, 2009: Cramer

Jim Cramer has spent over a year “shouting in my usual unhinged way” about the bleak real estate market, he writes in New York. But now he’s so confident housing’s headed for a bottom that he’ll name the exact date: June 30, 2009. Why?

1. New home construction has fallen spectacularly, and "by next June we won’t be building enough homes to accommodate demand."
2. Congress has authorized $300 billion in FHA loans. Foreclosures and supply will both nosedive as a result.

3. By next summer, prices will be low enough to motivate holdouts, and "homes will seem irresistible to the many millions of potential buyers."
4. Wall Street turmoil has done all it can to roil the New York market. "When the last areas fall, the bottoming process begins in earnest."
5. The Fannie/Freddie takeover will turn mortgages into “the world’s best investments.”

To see the complete list, click the link below. And make a note: “On June 29, call your broker.”
  (More Jim Cramer stories.)