Jim Cramer says investors shouldn't panic about February's weak housing starts because the market is about to rebound.
CNBC's Jim Cramer on Tuesday said investors should not panic about February's"truly pathetic" housing starts number because the market is primed to bounce back.
"Don't be afraid of the hideous housing numbers. Be aware that this is a natural decline, which I think will be followed by an advance that you can profit from as housing enjoys its annual spring rebound," the "Mad Money" host said. So he's throwing his faith behind Lennar, the leading homebuilder, and DR Horton, the top affordable homebuilder. The respective stocks are up 25 percent and 18 percent this year.
Poor weather made it tough to build homes, as illustrated in the fourth-quarter earnings of home improvement retail rivals Home Depot and Lowe's, Cramer said. Restrictive zoning laws across the country, notably in the San Francisco Bay area, have led to construction constraints and higher home values.
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