[video] Cramer Quick Take: D.C. Hurts Housing
NEW YORK (TheStreet) -- Although the government shutdown is resolved, has it taken its toll on the housing market?
According to TheStreet's Jim Cramer, the answer is yes. Furthermore, he told Debra Borchardt that the short-term deal will further hurt housing demand.
He said the drama in Washington has hurt the whole nation, damping consumers' desire to purchase new homes.
With the debate slated to resume in January, he suggested many consumers will continue to postpone large purchases.The solution? Cramer said President Obama and Congress should move the debate to late 2014, in the best interest of the economy. He added that although the stock market held up well during the prolonged shutdown, confidence can't be that much better with only a short-term deal in place. While still having some positives left within the real estate market, it has largely cooled off in the second half of 2013. Cramer said the spring selling season can change that, but as of now, he doesn't like the housing stocks. He said that housing stocks will likely take another leg lower, which will then be a good time for investors to start thinking about buying. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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