Logan Mohtashami vs Jim Cramer (2011 housing call)

AN INVITATION FOR MR CRAMER President Obama had his “Beer Summit.” I would like to offer Jim Cramer of CNBC's Mad Money, a “Philly Cheese Steak Sandwich Summit” ! Jim Cramer, of CNBC ‘s Mad Money , was visibly upset by gloomy real estate bears who had predicted a dismal 2010. Now that the actual year over year increase in home prices of 0.3 per cent has been published, Cramer wants the bears to be held accountable and to issue apologies to the American people for their doom and gloom prognosis. Will they? Would he? Would I? At the beginning of 2010 I was yet to be published, though my colleagues would vouch that I predicted the market would be up 2% or down 2%. I thought the billions of dollars poured in the market to get rates super low would spur some home buying. I also thought the tax credit would give a short-term boost to home purchases. However there is not a public record of me having said so. Therefore, I cannot answer Mr. Jim Cramer's challenge for this year. Going forward , however, my positions and predictions are and will be public record. Therefore, I challenge Mr Cramer, gentleman to gentleman, to compare our predictions for this coming year at the end of 2011. He has stated his in an emotionally charged display last week. I have stated mine on Benzinga.com with my 2011 predictions article. I predicted a 3-7% decline in home prices for 2011. If I am wrong, I will gladly buy Mr Cramer a Philly Steak Sandwich and publicly apologize in an article to Mr Cramer and the American people for a bad forecast. If I am right, and Mr Cramer is wrong, he should do the same. I look forward to the first bite!

Posted In: CNBCJim CramerEconomics

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.