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NEW YORK (TheStreet) -- "At least wait for a real dip before you buy the dip," Jim Cramer warned his Mad Money viewers Monday, after a weaker market open summoned a flood of buyers that were ultimately wiped out by the close.

What were these delusional bullish investors thinking? Cramer listed off the many reasons why these bulls got too complacent.

First up, the notion that Greece is still negotiating in good faith. Cramer reminded viewers that the current Greek leadership was elected on a platform of forgiving the country's mounting debt, not taking the austerity measures to fix them. The chance of a Greek deal? Slim to none.

Second, the notion that our U.S. markets can withstand European markets down 4%. Cramer said like it or not, our markets are linked to Europe, so our stocks will have to absorb the setback when Europe falls that much.

The third complacent misconception? None other than our own Federal Reserve officials talking about an interest rate hike on probably the worst day to talk about an interest rate hike.

Fourth, Cramer said the markets have ignored the fact that Greece is now cozying up with Russia, at the same time financial issues in Puerto Rico are surfacing and the rest of the world, including China, still appears to be in a bear market.

Finally, Cramer noted that the these foolish buyers somehow thought that stocks had to bounce because the fell 1%. That, he said, is not the case, especially with so many other issues that are not being taken seriously. Stocks need to go still lower before they'll be ready for a real bounce.

Building on Housing

On a day like today, investors need to be looking for bright spots in the market so they can get their shopping list ready for when the big decline finally arrives. What's looking up in the markets? Housing.

Home buying levels have finally returned to 2006 levels, but unlike 2006 everyone getting a mortgage today is more than qualified for their loan. Additionally, home prices are rising, smartly, year over year, finally dispelling the notion that owning a home is the quickest way to lose your shirt.

With over two million new households expected to be created this year thanks to an improving job and housing market, Cramer said home builders will once begin to start developing all that land they've been hoarding these past few years.

What does all this good news mean for stocks? The obvious choice remains Home Depot (HD) and Lowe's (LOW), Cramer concluded, because spending on your home has just flipped from being an expense to an investment.

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