Cramer's 'Mad Money' Recap: The Next Leg in the Housing Rally (Final)

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NEW YORK (TheStreet) -- "I have been endlessly criticized for calling a housing bottom in June," Jim Cramer told the viewers of his "Mad Money" TV show Monday, "but I nailed it."

He said investors can't wait for home prices to rise to make money in housing-related stocks. The time to buy these stocks was in June, when Cramer called the bottom, and he has the numbers to prove it.

Cramer said he's fed up with the naysayer's criticizing his bold call on housing. He said the bears have been keeping investors out of stocks like Whirlpool (WHR), which is up from $45 in May to $71 today, and Stanley Works (SWK), up from $36 to $50.

Other stocks, like Masco (MAS), Black & Decker (BDK) and Home Depot (HD), a stock which Cramer owns for his charitable trust, Action Alerts PLUS, are also higher, he said.

Cramer said the bears' case of a "shadow inventory" of foreclosed and soon-to- be foreclosed homes that will flood the market just doesn't make sense. He said that no one is forcing the banks to sell their inventory of homes. It's in the banks' best interest to renegotiate with homeowners and hold onto the properties until prices improve, he said.

Cramer said the simple truth is that shadow inventory only matters if banks are forced to sell the homes they have. He said that the 10% jump in existing home sales is something to celebrate because it means that pent-up demand is working off the excess inventory, just as it should.