by Stathis
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Product Description
Many Americans are aware of the real estate bubble that has swelled to ridiculous levels over the past few years. In contrast, many more are in denial, blinded by the type of greed and ignorance that typically accompanies all types of asset bubbles. America is now at the final stages of its largest real estate bubble in history. But similar to all asset bubbles, even with real estate, what comes up must eventually come down. The devastating effects of the massive corporate and Wall Street fraud surrounding the Internet bubble led Alan Greenspan to lower short-term interest rates to a 43-year low. However, these low rates have accentuated the credit and real estate bubbles that have been forming for over a decade. And consumption-hungry Americans have been lured into record consumer and mortgage debt by financial firms that have had very little government oversight. But the end is near for both of these assets bubbles. Most likely, the next ten to fifteen years will usher in an even bigger problem for the American economy; the retirement of some 76 million baby boomers, most of which will have very little income other than Social Security. This historic period could prolong the correction period of the real estate bubble. Investors must understand that the effects of the correction in real estate will not be restricted to home prices alone. In fact, due to millions of expected mortgage defaults by homeowners, the fallout of the real estate market could lead to a financial disaster for many financial institutions. This book does a brilliant job of presenting the reader with an assessment of the economy in Part I. Only by a full understanding of the current economic conditions can one navigate the real estate market effectively. The author connects much of the economic data from Part I to the real estate bubble, discussing potential consequences. In Part II, he provides a detailed analysis of the current real estate bubble and explains how a correction in real estate could cause a snowball effect, leading to a catastrophe. In Part III, the author provides a more comprehensive picture for different methods of investing from the opportunities provided by real estate bubble. As well, the author shows how to profit from America s longer-term crisis, expected to take center stage in just a few years.
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Average Customer Review:
5 of 7 people found the following review helpful:
Worth Reading., 2007-11-27
An interesting historical analysis. I cannot find any major area of disagreement. I just wonder if the information is as timely now as when it was originally written. Regardless, I think that you'll get something of value out of reading this book.
You may also want to check out:
The WealthLoop Series Beginner's Guide to Building Wealth Buying Houses: The Foolproof Roadmap to Real Estate Riches Without the Risks and Hassles of Landlording.
4 of 7 people found the following review helpful:
 Spectacular Timing, Brilliant Analysis, 2007-11-10
First, I want to thank the author for sharing his brilliant insights in this book. Unlike most of the real estate books out there, this one was obviously written by a real financial expert, because it actually shows you how bad the US economy is in addition to the real estate bubble. Therefore, you won't be surprised when you continue to hear more bad news. And you will be ready to make a move at the first sight of problems, like the recent Citibank collapse (like I did!!). Suckers will rush in and buy foreclosures because they don't understand what's goin on. If you want to prepare yourself to get through this mess you absolutely have to read this book!
Another great thing I liked about the book was that it shows you many ways to make money from this meltdown - buying, selling, shorting real estate related stocks and banks, buying REITs. He also says that the rental market is going to heat up and be a great investment. I also followed his recommendation to buy gold and im up 50% in just a few months!!
Real estate books are usually focused on charging you up and making you feel like its so easy to get good deals. This book shows you the realities. The book specifically tells you to be on the look out to short the bank stocks due to the real estate meltdown and it even provides a tutorial on shorting. Another unique thing was that it showed you how to do something that most don't know how to do - value REITs. I have already made a boatload of money shorting the bank stocks!!!
Now, all that said, if you are looking for some step-by-step guide how to buy foreclosures and preforclousures, this book is essential alongside one specifically written for that method because you need to know what is going on in the economy and this book really delivers that message. As well it also gives some great bottom-line advice on foreclosures and pre-foreclosures. I was interested in buying real estate until I scored big in the stock market due to the material in the book. Already I made many times more than I could have in one month than I could in a year if I had gone the foreclosure/pre-foreclosure route.
This book's real value is that it shows you how bad the situation is, how bad it is going to get and how long it could last. And if you don't know that, those foreclosures you buy could be a huge loss. I have read so many of the books on real estate and not one of them actually shows you how to assess the real estate environment like this one.
The RE Investor reviewer is obviously some moron who watches foreclosure infomercials. Guys like him are looking for easy payoffs and don't realize timing is key. And if you don't understand the full extent of the real estate problem, you are going to lose alot of money.
This book is worth many times its price. It's truly brilliant!
6 of 10 people found the following review helpful:
Great Overview Book, 2007-10-12
This book is distinct from other real estate books I have read because it does not focus on lists of real estate resources. As well, it does not paint an "easy money" picture for would be real estate investors. Instead, it gives an overview of all the ways to potentially profit from the real estate meltdown, from sound advice for homeowners, buyers, and investors, to those wishing to profit using the stock market using rental REITs. It even shows one how to short the mortgage and homebuilder stocks.
Perhaps the best thing the author does is that he spends the first half of the book explaining how the bubble formed and how severe it really is. This information is critical because it will help you assess risk and opportunity throughout the real estate meltdown. If you do not understand the full picture, you will get burned. I have found no other book that even addresses this aspect. All others are set up to help you rush in with both feet, as if there is no further downside risk.
The material on profiting from real estate in the stock market was particularly informative. The author does a very nice job of showing how and when to short the mortgage stocks. In fact, the examples he shows have crashed since the book was written. If I had read this book sooner and followed his advice I would have made some huge profits.
I am an experienced investor, especially in the stock market. And I have never read a book that showed one how to properly value REITs until this one. Another excellent benefit of the book.
In summary, if you're looking for a book dedicated to foreclosures, look elsewhere. But if you are looking for a book that discusses the risk in the real estate meltdown, what to expect over thenext several years, how to manage it, and a focus on profiting from the stock market, this is the book to get.
25 of 32 people found the following review helpful:
 The worst book I ever purchased, 139 pages of drivel, 2007-10-12
A quickie rushed out to exploit the current market, words fail me to describe how poor this excuse for a book is. The Author is unnamed, they must be embarrassed. Pages 1 - 101 are off topic political and economic insight of the lowest level and accuracy, such as "Of course, Vice President Cheney has ensured that Halliburton has been the main beneficiary of taxpayer dollars."
When you finally get to the content, the author states on page 101 "Some of you may be wondering why it took me 100 pages to get to the "meat" of the book"
Um, yes, we are wondering when we'll get what we're paying for. The answer, sadly, is we won't. The scanty "meat" of the book, until we go back to off topic filler and Government statistical data starting with the appendix on page 175, is no better.
The book is riddled with errors, such as the reference to ROEs on page 138 or this gem of advice on page 124 to find an appraiser that "doesn't work with mortgage companies". That would be, an appraiser who doesn't work, might be tough.
More keen insight on page 108, the very first suggestion under the topic of Strategies for Investors, is "Buy land and build" Excuse me, but aren't the people that do that all losing their shirts right now? And this is the best strategy?
Page 130 suggests "try to control an area". You are supposed to buy an entire run down area so that you can influence the demographics. This is not a viable strategy for any but the very largest investor, even the Trumps of the world find this very difficult, Atlantic City is an excellent example.
The things that you might hope to learn from this book, such as Buying Pre-Foreclosure properties, span less than four pages and provide little help. For example, one paragraph warns you watch out for liens, but no real data on how to do this, title searches or tax lien searches, no info or suggestions on how to locate or protect yourself from these risks.
I see two good reviews of this book. I can only wonder if the book was read or there is an undisclosed link to the reviewer for such a glowing review for such a inferior product.
Try one of the many, many better books available.
12 of 16 people found the following review helpful:
Brilliant analysis and timely advice, 2007-08-24
This book shows the reality of the real estate bubble better than any I have read. It will not only convince you that the real estate shakeout will last many years, but it will also show you many ways to profit from - whether you are considering buying, selling, buying investment properties, or making money from the stock market.
I got the book right when the sub-primes tanked so I wasn't able to follow his advice in shorting these stocks. But he shows the specific stocks that will collapse (Accredited Lenders, IMPAC, Freddie, Fannie, the homebuilders, etc). He even mentions that Countrywide has a lot of risk and they might represent a short! No one anywhere predicted problems for them. It's almost like he has a crystal ball.
According to the author, there will be many other chances to make money from this bubble. I also plan to buy rental units as he recommends and knw I have a better idea how to analyse the real estate market myself. I just ordered his other book that predicts a depression and I'm looking forward to reading it as well. Highly recommended.
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