This column was originally published on RealMoney on July 21 at 9:39 a.m. EDT. It's being republished as a bonus for readers.

Housing's so bad that it is infecting everything, including things it shouldn't affect. I understand the correlations. They make sense to me. Sell earthmovers, sell rock companies, sell sheetrock companies. Sell Home Depot ( HD) and Black & Decker ( BDK).

But what happens if the Fed is done raising rates? Do you buy them back? Can you get in them lower? And what happens if the companies you sell aren't all that in bed with housing? Do you really need to sell every share of the Caterpillars ( CAT) and the Ingersoll Rands ( IR) because of housing? That's what's happening.

(I saw the same thing happen yesterday in autos. Everyone knows autos are slow. But did it suddenly just dawn on everyone who owns Johnson Controls ( JCI) that the company is in the auto business?)

I believe companies like Masco ( MAS), Fortune Brands ( FO) and American Standard ( ASD) have more going for them than a D.R. Horton ( DHI) or Lennar ( LEN).

I could be wrong, and I am definitely wrong when it comes to the stocks ... for now.

But six months from now, I bet these stocks are higher, not lower. And remember, stocks aren't always that savvy. Think of Procter & Gamble ( PG) at $53 and being given away a few months ago. Think of Altria ( MO) forever at $70.

Yeah, short-term stocks get it wrong all of the time. But to write off every company that has a housing component is just plain stupid.

Yet, that's what is happening.
At the time of publication, Cramer was long Altria and Ingersoll Rand.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, 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 Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here. has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from

If you liked this article you might like

Jim Cramer: No Place to Go and Fewer Places to Hide
Jim Cramer: The Real Deal About Tariffs

Jim Cramer: The Real Deal About Tariffs

Jim Cramer: Jerome Powell Is Giving Us Stability
Cramer: So Far So Good

Cramer: So Far So Good

Jim Cramer: Why You Can't Write Off FANG

Jim Cramer: Why You Can't Write Off FANG