by John R. Talbott
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Product Description
How Far Can Home Prices Fall?What Can You Do to Protect Yourself?Home prices are seriously overvalued in many regions of the United States. The question is no longer if, but rather how far, home prices will fall and over what time frame this bubble will deflate. Home values have been escalating in real terms since 1981, the year nominal interest rates last peaked. And the greatest price increases in percentage terms have been in the wealthiest and most exclusive cities in the world.
Sell Now! analyses the evidence and offers clear explanations of these perplexing issues. Overly aggressive mortgage lenders have fueled this overheated market by extending too much credit to home buyers and by offering ever-more exotic forms of mortgages. Many home buyers have been caught in a never-ending race to achieve status, often overpaying for homes in the “right” neighborhoods. And people’s pursuit of easy profits has pushed prices to unsustainable levels.
Finally, there is a reasoned analysis that not only explains how home prices got this high, but why they are sure to fall and by what amount. Sell Now! debunks many theories that purport to show that home prices are either reasonable or are sustainable at their
current high levels.
How bad can it get? Unlike previous home-price declines, this cycle has the potential to be not only national, but international in scope. The national economy, so dependent on the housing, mortgage, real estate, banking, and construction industries for growth, is at risk and the entire banking system might come under fire.
You owe it to yourself to become better informed about the possible impact on you, your family and your most important asset---your home.
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Average Customer Review:
0 of 0 people found the following review helpful:
 He was a lone voice., 2008-10-08
As a Florida west coast realtor and real estate investor; I was desperately seeking an explanation to the incredible drop in buyer's demand in our real estate market, which began in the fall of 2005. John Talbott's book is one of several that I bought in the spring of 2006 on the subject. He was a lone voice, one of doom, that I did not want to believe was true. It turns out he was right in his concerns. I had seen some mortgage fraud in 2004 and 2005, which I spent hours trying to find some government entity to investigate, without success i am sorry to say. I had no idea of the magnitude of this fraud. The mortgage fraud is not talked about much, but I am convinced it was a major player in the greed, corruption and downfall of our current financial system. I am interested in whatever John Talbott has to say.
0 of 0 people found the following review helpful:
I hope John talbott reads this., 2008-09-19
Today is September 19, 2008, the day after the World Banks stepped in and the Feds gathered to try and fix what John Talbott and others like him warned. As I read this book it was funny because it was happening real-time. I was watching CNN and reading it at the same time - weird. I read this step-by-step fallout book during the same week that we were all interrupted by continual breaking news from CNN to indicate that bank after bank and even AIG were dropping like flys. If you are reading this John, I hope that you will consider a book about the Wimpy Factor, 'two hamburgers tomorrow for one today' - how a large percentage of our paychecks are forfeited to thin air in hopes of protection tomorrow by insurance companies. We will never see that money again and we could never make that percentage gain on any investment. How can we justify money and jobs going out but not returning to the economy?
Best regards,
Brenda Economides
Pasadena, CA
0 of 0 people found the following review helpful:
his predictions are dead on, 2008-08-17
If a book like this was written in 2008, it would be a no surprise.
But, writing this Jan 2006 was probably would not have been easy since, real estate market was still hot and many of so called 'experts' were suggesting us to buy homes as real estate prices will continue to rise for ever.
Comparing the authors predictions back then with what is happening in real estate market now, the author is dead on.
I think, this is book is still relevant today even after we know what is happening in real estate market currently.
The author basically analyzes the fundamental factors that can cause the realestate appreciation and looks at how the boom of last few years was decoupled from fundamentals. He mainly draws parallels with similar boom-bust cycle in Japanese real estate market around 1990.
1 of 1 people found the following review helpful:
A great book. I wish that I read it earlier, 2008-05-27
This book is published in 2006, with some revision of the author's the other book in the same topic. This book is a great one with a lot of data to analyze the biggest real estate bubble existing internationally, not just U.S, but U.K, Australia, and Europe.
The book writing style is more academic, not as easy to read as your novel, but each chapter inside is detailed with a lot of statistical data. Rather than picking up U.S. Real estate data, the author include international RE data to argue the fact that we are in the bubble of international RE.
As I am writing the review in May 2008, U.S. are in the abyss of subprime mortgage, and the worst recession in 28 years (quoting Warren Buffet's words). We now see the author's viewpoints are sound.
History repeats itself. common sense does make sense. When P/E is high (no matter if it is a stock or a home), you need to research, think and act. Always, always be cautious and use data to support your research. Do not follow the herd, do not listen to these so-called experts from Realtors (to them it is always great time to buy! ) and you hard-earn money will be safe.
2 of 2 people found the following review helpful:
He was not exactly Nostradamus..................., 2008-05-21
but it seems Talbott's insights to the Housing Bubble were spot on even though the crisis was managed by smoke and mirrors until the last quarter of 2007. Here's hoping for a follow up soon.
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