Jim Cramer thinks he knows better

Jim "Mad Money" Cramer is not one of those who believe rising rates are bad for real estate recovery:

Reeling From the Rate Prattle
By Jim Cramer
RealMoney Columnist

As someone who is in the market for real estate pretty much every day in a multistate area, all of this talk about rates choking off the nascent recovery is almost unbelievable. These are bond people, probably many of them short, telling you things that simply aren't true.

In addition, they are trying to explain away an especially positive Treasury auction today, but I am sure it's just a matter of time as we are in one of those bizarre negative moments that we aren't about to shake.

Throughout this country people are living in fear that they aren't going to get the lower rates unless they act now.

I'm not a bond person, Jim, and I find it rather believable. Just ask one of my clients who passed on a great one bedroom on South Park because the rates were higher and pushed the payments out of her comfort level.

Read the whole article and you'll see that Jim doesn't have much meat behind his argument (when does he ever?) except for anecdotal observations from a higher-end agent. The proof will come in the coming month, with hard data as evidence (unless rates fall again).

I hope I'm wrong, of course.

SOURCE: THE STREET via ALEXIS MCGEE