There are housing analysts, and then there is Jim Cramer.
For those of you who don't know, in August of 2008, CNBC's Jim Cramer predicted that the housing market would bottom in June of 2009. Well, here we are in June of 2009, and rather than Cramer swallow his pride and admit that he was wrong, Cramer confirmed his prediction and made a shameful housing bottom call despite the fact that the preponderance of evidence points to continued home value declines.
Diana Olick is CNBC's housing analyst who continues to see weakness and risk in the housing market based on, well, the preponderance of evidence.
So knowing that these two both work at CNBC, I couldn't help but find the humor in Olick's recent post when she wrote the following in response to some people (Cramer?) thinking she is too bearish on housing, "I'm not a bear; I'm a realist. It's your right to have an opinion, but it's not my job. My job is to gather for you and funnel to you the facts: The numbers, the trends, the industry forecasts and the experts' analyses. I have no agenda and frankly gain nothing from being either a bull or a bear. If anything, I'd be better off personally as a housing bull. CNBC doesn't allow me to own stock, but I can own a house, and I do. If you think housing has bottomed, that's your opinion, but that's just what it is: Opinion."