Jim "Mad Money" Cramer on April 19, 2009 called the bottom of the housing slump had been hit when he said:
The bottom, well, is 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.
But, Cramer seems to have forgotten the schooling he took at the hands of Jon Stewart who seemed to think that Cramer has called more bottoms than a proctologist. The reasons you should consider waiting to buy your American Dream/Nightmare after the fold.