Mad Money Recap

Cramer's 'Mad Money Recap': Waiting for the Housing Turnaround

05/13/08 - 07:50 PM EDT

ACI GNK HOC MMR OI (Action Alerts PLUS PICK) OMG PAL SYX

TheStreet.com Staff

Click here for an archive of Cramer's "Mad Money" recaps.

"I want to be bullish on the housing stocks, but I just can't pull the trigger yet," Jim Cramer told viewers of his "Mad Money" TV show Tuesday.

He welcomed Robert Toll, chairman and CEO of Toll Brothers TOL to the show to discuss the state of the housing market.

Cramer said that while he's been waiting for a bottom in the housing market, Toll Brothers' most recent quarterly results didn't instill enough confidence. The company reported revenue of $818 million, which was more than the year-ago quarter, and its backlog did shrink 13% to just $2 billion. However, Toll Brothers still only sold 1239 homes, down 49% from the same period last year.

Toll said that he feels confident the housing market may return after November's general election. Asked to grade the current sales performance in his communities, Toll said he'd give F's to just about all of them. On a positive note, Toll sees some strength in the California housing market and that Naples, Fla. is also starting to stabilize.

Overall, Toll reiterated that he's not willing to bet on any short-term recovery in the housing market. He said Toll Brothers is buying additional land, but only if it sees incredible value and is able to wait several years to realize that value.

Cramer asked Toll about his support for a Federal tax credit for home buyers. Toll replied that he is in favor of a $15,000 tax credit and felt that if implemented by Congress, could jump start the ailing economy. He said that he's not in favor of the proposed $300 billion injection of capital into the Federal Housing Administration (FHA).

Cramer: Apple's a Lasting Winner
Previous «
1 2
At the time of publication, Cramer was not long on any stock.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

Previous Story

Cramer's 'Mad Money Recap': Emerson's New Tech Look

TheStreet Picks

Mad Money Recap

Go To Section Home

05/12/08
Cramer's 'Mad Money Recap': Emerson's New Tech Look

Emerson Electric is one of Cramer's new tech companies that help run the global economy.


05/09/08
Cramer's 'Mad Money Recap': Next Week's Game Plan

Cramer outlines what stocks to buy and sell next week.


05/08/08
Cramer's 'Mad Money Recap': Nordic American's Juicy Dividend

The company's dividend should soar as its oil tanker business flourishes, Cramer says.


RSS
RSS
RSS
04/28/08
Cramer's Take on the Top 10 Searched Stocks

Apple and AT&T were among the most searched stocks on TheStreet.com Friday. Here's what Cramer had to say about them recently.


04/26/08
Jim Cramer's Best Blogs

Catch up on his thinking on the hottest topics of the past week.


04/26/08
Coming Week: Make or Break

Investors will have to deal with a Fed meeting and another flood of earnings and economic data.


04/27/08
This Week's Barron's Roundup

Looking for deep value with Defiance Asset Management, polling big investors about where the market's headed, plus much more.


04/28/08
Monday's Analysts' Upgrades, Downgrades

See who made what calls.


02/29/08
3 Stocks I Saw On TV

3 Stocks I Saw On TVDan Fitzpatrick examines three stocks viewed on Fast Money and Mad Money Today's stocks include Deere & Co., Petrobras and MBIA


04/28/08
One Bank Pick Stumbles, the Other Soars

TheStreet.com Ratings checks in on First Community Bancorp and First Niagara Financial Group two months after recommending the stock.


04/28/08
Grand Theft Auto IV Hits the Jackpot

Take-Two's latest hit receives a perfect score from industry reviewers.


Your Recent Quotes: Quote Up0 | Quote Down0
Dow S&P 500 NASDAQ
Oil*
Gold
10 Yr
0.00%
%
%
%
Data delayed 20 min
Premium Stock Ideas