Given Monday's huge market selloff, Jim Cramer knows that it is not easy to spot a bright spot floating around as and opportunity for investors.
"But there were some bright spots—you just had to be willing to look for them, rather than tearing your hair out or curling up in the fetal position on the floor and crying like a baby," the "Mad Money" host said.
Cramer was stunned Monday when he saw the whopper of a pending-home-sales number and learned that the U.S. is officially back to 2006 housing levels. The difference this time is that the loans used to buy these homes are expected to produce very little default, if any. Basically, the people buying homes these days were totally overqualified, even before they get a mortgage.
And the numbers are spectacular. The Northeast region of the U.S. has hit a seasonally adjusted index of 93 now, up from 79 in 2012. The Midwest is up to 111 from 95; the South to 127 from 110; and the West is up to 104 from 103.
Meanwhile, the price of a new home is up year-over-year, about 9 percent. That is a good thing because people don't like to buy homes and lose money on them immediately. They will just stay in their apartments and pay rent if they think they will lose money on day one.
So, how the heck could these numbers be possible while the rest of the economy is so uncertain?