This column was originally published on RealMoney on Dec. 6 at 9:25 a.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.
If it weren't so personal, if it weren't so your home, you would understand for certain why
and the rest of the cohort keep climbing.
I mean it. So many of us own homes that we feel the sting much more personally than we would if it were PVC pipe -- still very much in glut, by the way, so be careful of
-- that we can't possibly believe that Bob Toll knows what a bottom looks like. Today there's another article about how homes have lost 20% to 30% of their value in once-hot areas. Heaven forbid.
But if I were to tell you, for example, that stocks had dropped 20%-30%, you would say, "Maybe they are cheaper." How about steel? "That might clean the glut." How about semiconductors? How about sweaters? Men's suits?
There's nothing personal about those price drops, and we buy them.
You get the picture. It's only because we own one of the darned homes already that we are flummoxed.
I urge you to think of homes as just another commodity where the glut's being worked off. That's how to see it. That's why they are buying the homebuilders.
Period. End of story.
C'mon, brave the mall tonight -- I'll see you there! Come to my
book signing, 7 p.m. tonight at the Borders Books and Music store at Bridgewater Commons, in Bridgewater, N.J. We'll talk stocks, I'll sign books, you'll finish your holiday shopping early for once.
Please note that due to factors including low market capitalization and/or insufficient public float, we consider PW Eagle to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.
At the time of publication, Cramer had no positions in any of the stocks mentioned.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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