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Jim Cramer thinks the Street is underestimating super-storm Sandy and the impact it will have on construction.
"The numbers we have seen, $36 billion for New Jersey and $33 billion from New York, according to the respective state governors, may sound like overestimates, but I think they will end up dramatically understating the destruction," he said.
And Cramer's not alone in his assessment. Bill Dudley, the president of the New York Fed, said much the same; that the damage appears to be "more extensive and longer-lasting than first anticipated."
If the Northeast region is looking at damage that's even worse than expected, the resulting surge in construction and reconstruction could be on a scale never before seen.