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Famous Stock Market Pro ~ Stock Pick For Real Estate Recovery

I'm not a stick picker and will leave that to the experts.

Cramer "Mad Money" ~ Stock Pick For Real Estate Recovery ~ Bank of America Corporation ~ May 30, 2009

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California Housing is bottoming
CA median housing prices are down 36% from a year ago
CA median sold prices have increased for the second consecutive month.
CA Transaction prices are up 49% from 2008
California housing inventory is clearing out.
A Recipe for a bottom in real estate
Bank of America benefits more from the number of transactions than housing prices.
36% of Bank of America's mortgages are located in California.
Bank of America benefiting from Merrill Lynch acquisition
BofA benefiting from its OREO (Other Real Estate Owned).

Cramer "Mad Money" ~ The Most Compelling Stock in the Market Today ~ June 11, 2009 ~ Bank of America.

Bank of America benefiting from its Merrill Lynch acquisition
BofA benefits from its OREO (Other Real Estate Owned).

So how will the future of real estate in America inspire choices by Cramer and other pro stock market pickers ... and the stock market itself?

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Harrison K. Long, Explore Group Properties, Coldwell Banker Previews, Irvine, CA.

www.BuyersExploreHomes.com ~ www.ExploreTheOC.com

Posted by Harrison K. Long, REALTOR, Broker, expert negotiator on 06/13/2009 12:31 PM

Comments (3)

Stock Market in the ActiveRain Channel

stock market, bank of america, housing market countdown, reo, real estate owned, economy stimulus, stock pick

Post is included in group: The Economics of Real Estate
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3 Comments on Famous Stock Market Pro ~ Stock Pick For Real Estate Recovery

JUN

Thanks for this post to remind that a famous stock market picker is paying attention to BofA Corp and the RE bus as it effects his decisions for recommendations.

JUN

Harrison - He will probably be right. I remember trading some of Bank of America when it was at $4.00 a share and selling at $6.00. Looking back this would have been a good one to tuck away along with Wells Fargo. It is at $13 and change now, the worse seems to be over and I agree that this is a better way to play/invest in the housing market recovery than owning the homebuilders. Upside to $20 a share makes sense and that is still close to a 50 percent return !

Stephanie ... Thanks for your comment here. I agree that when BofA stock was a $4 a share, that would have been a fantastic buy, and it still looks good at $13.

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