"This housing tax credit could make it so you just have to relent if you've been shorting the homebuilders and let them lift," said Jim Cramer on Friday's "Stop Trading!" segment on CNBC. "Let them lift for a little bit."
On Wednesday, the Senate approved a $15,000 new-home tax credit, which could benefit such stocks as
. "People were very surprised that out of nowhere," Cramer said, the tax credit was "extended to new homes, not just existing homes."
In other housing news,
CEO Ara Hovnanian received higher compensation in 2008 than in 2007. "Why the heck is he even taking a salary with that kind of annihilation in capital?" said Cramer. "These guys are rich beyond belief!"
At the time of publication, Cramer had no positions in stocks mentioned.
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