RH (RH) Isn't Happy With The Housing Market, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Discussed As He Dismissed A Recession. RH (NYSE:RH) is one of the stocks Jim Cramer recently discussed.

RH (NYSE:RH) is back on Jim Cramer’s radar as hopes of an interest rate cut lift home building and housing stocks. Its shares have lost a whopping 39% year-to-date but jumped by 13.5% last week as investors bet on mortgage rates dropping following an anticipated interest rate cut. Cramer’s previous comments about RH (NYSE:RH) have wondered whether its industry can survive a talent shortage. This time, he discussed the housing market and remarks by RH (NYSE:RH)’s CEO:

“Housing seems so small, when you look at all the data, so many people are required, from when the paperwork, the actual bricks, the Home Depots. . .housing is so much bigger than a data center because when it’s finished you also have to furnish it. Data center’s one and done. And when you go to a big data center, there’s nobody’s there!

“This housing market is the worst in forty years. Gary Friedman would tell you that, from RH, he’s the best at this. . .”

Here are Cramer’s previous thoughts about RH (NYSE:RH):

“Let’s talk about Wayfair, Williams-Sonoma, and RH, the old Restoration Hardware… I know both Williams-Sonoma and RH are a different story. They make some fine furniture here, and they’d like to make more furniture, but it’s difficult to find skilled workers to make high-quality merchandise. I’m not slagging our workers. The people who used to make furniture simply moved on to other things, or they retired. … Tariff wouldn’t go far enough to make them come back. At the end of the day, I’m skeptical that we can bring back the American furniture industry as we remember it, and even if we could… would it be worth the cost? I don’t know… Unless the federal government wants to get into the business of making furniture, forcing the hand of RH and Williams-Sonoma, it won’t make a difference to the industry as a whole. There will most likely not be a revival of those great furniture cities.”

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Disclosure: None. This article is originally published at Insider Monkey.