Cramer Incurs Wrath Of Realtors
CNBC’s “Mad Money” host Jim Cramer is in the headlines again. Yesterday on NBC’s “Today” co-host Meredith Vieira asked Cramer, “So bottom line for now, housing sales will continue to drop, correct?” He replied, “Right, don’t you dare buy now. Don’t you dare buy a home now. You will lose money.” After seeing this, members of a New Jersey Realtor group contacted “Today” and complained that Cramer’s remarks were “misleading, inaccurate, and inappropriate” and that “the real estate market is regional” and “it’s a buyers market, so why wait?” Cramer, responding to the Realtors this morning on CNBC, compared them to Soviet-era news organization Pravda.
You can access this morning’s CNBC segment here to watch Cramer being brought to task for his actions. Funny stuff. Even funnier considering that today the Commerce Department announced sales of new homes dropped 8.3% in August to a seasonally-adjusted annual rate of 795,000, the slowest sales pace since June 2000.
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