Customer Reviews

The Skinny on the Housing Crisis: What Every Homeowner and Homebuyer Needs to Know

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The stick figure format is a good way to get across points that would otherwise be lost in abstract arguments. Clearly inspired by the stick figure "Subprime Primer" that made the rounds on the internet, this book explains more gently and from the buyer's point of view how the US got into the current housing mess and how individuals can stay out of it.

It really is essential reading for all first-time house buyers. My own 11 year old son read it and understood the conflicts of interest inherent in the advice given by people who get paid only if they convince you you make a bad buying decision.

Patrick Killelea
[...]

This weekend I read six of Jim Randel's "Skinny on" books--creativity, credit cards, direct sales, the housing crisis, real estate investing (part 1) and networking.

These books use the Japanese writing style known as Magna. The author researches his topics and reduces the subject down to a one to one and a half hour read that simplifies the concepts in easily understandable stories. Following the illustrated stories he provides a quick summary of the points to remember. He then lists a further reading section and recommends specific books for those that want the fine details.

The Skinny on The Housing Crisis: What Every Homeowner and Homebuyer Needs to Know was voted the number one Real Estate Book of the Year in 2009. This easy to understand and timely information is a must read for potential and current homeowners.

Until I read this book, I really did not understand how the value on my house could have went down, why so many people lost their homes and how the world economy was negatively impacted by this crisis.

This book is extremely informative, a time savers and an easy read. Don't be fooled by the stick figured illustrations. This is a serious book about important issues homeowners and potential buyers needs to know written in an easy to understand format.

If you are contemplating homeownership and you read no other book this year, read this one!

This volume in the current series of eight generally humorous and always informative books addresses a subject that is currently in the news because of the housing price slump since 2006. The book won first prize in the annual book competition sponsored by the National Association of Real Estate Editors.
Randel points out that people should not believe everything they see on TV or read in the newspapers or what real estate salespeople or mortgage brokers' claim. He describes the tricks that are used to sell and finance houses. He emphasizes that buyers need to beware of so-called "standard forms." He also explains such things as:
* Why did lenders lend to people who would probably be unable to repay the loan?
* What is the meaning of names like "piggyback mortgage"?
* What kind of scams did sellers commit?
* How can people learn the true value of properties?
* Are there too many real estate agents and is this causing a problem?
* Where should people go to get a building inspector, an appraisers, and an attorney?
* What happens to a mortgage loan after the borrower signs it?
Randel dramatizes his presentation by having a husband and wife discuss the benefits of investing in a house purchase. The husband is gung-ho, while the wife is cautious in the beginning, but then mistakenly agrees to the purchase.

A friend of mine who is a real estate broker gave me this book. I thought it was fantastic! In about 45 minutes I understood the whole housing mess, while having a few laughs.

This is a quick read that provides an easy, fun but serious and comprehensive look at what happened, but more important how to intelligently navigate all the hype served up by alot of heavyhanded sales people that populate the the homebuying landscape. The stick figure format is perfect for our attention challenged society and I look forward more of Jim Randel's stick figure books.

FINALLY, a book that explains an important topic creatively, thoroughly and with brevity. The Housing Crisis is hugely important as a current economic issue that needs to be fully understood in order to protect oneself today and be better prepared for the future. This book is actually a pleasure to read and you find yourself breezing through it only to discover when you're done that you know a heck of a lot more about the subject-at-hand than you did when you started. I really hope other "The Skinny..." books are in the works.

This book is brilliant! It should be required reading for every college student in America ... and for anyone interested in owning a home. This book explains how Main Street brought down Wall Street.

Buy this book and you will better understand the Housing Crisis that is now ravaging our country -- and it will only take an hour to read!

Matthew Martinez, Author of
Investing in Apartment Buildings: Create a Reliable Stream of Income and Build Long-Term Wealth

I came upon this book through my father who is a real estate guy. This book is a godsend for people like me who don't have the time or attention span to read lengthy books on complicated subjects. My dad is a mortgage broker and has been trying to explain the housing crisis to me almost a year now. All I heard was blah, blah, blah. This book is illustrated with stick figures who explain how the housing crisis began. It has serious content mixed with some funny jokes and the stick figures are hilarious. I highly recommend this book to anyone looking to learn more about a major issue in US financial history. Even my dad liked it which really says a lot. He said regardless of the cartoons the material is on point and informative.

"The Skinny on the Housing Crisis: What Every Homeowner and Homebuyer Needs to Know" gives an overview of what caused the housing crisis and how it evolved while at the same time showing how it has affected real people--or at least how it has affected everyone's favorite stick figures, Beth and Billy.

Of course, any book that quotes Bill Fleckenstein on Alan Greenspan has to be taken seriously but this book is also fun. The comic book format makes learning the somewhat complicated subject matter painless and the summaries and examples do a good job of reinforcing the material. There is even a little book mark included that is printed with the definitions of important terms used throughout.

The final summary repeats the important rules that can help to avoid trouble when buying a house--or when making any large purchase or investment. Do real estate brokers, real estate appraisers, mortgage brokers, the bank industry, the Fed, Wall Street, or the federal government have your best interests at heart? You have to educate yourself to protect yourself and "The Skinny on the Housing Crisis" is a great place to start.

A copy of this book was provided for review by the publisher.

The "Skinny On" series presents interesting topics related to individual decisions in a quick learning format. Using stick figures to illustrate good and bad decisions with their costs and benefits, the reader can gain good understanding in a short time, about one hour per book. Good citations and references are given for readers who want to pursue more in depth knowledge about the subject.

This book on the housing crisis was written in 2009, so it represents an interesting history of the rapidly changing problem in America. As with any type of effective learning from books, definitions are keys to knowing how to make good decisions. Like other Skinny On books, definitions in this book are spelled out in practical detail and illustrated with the thoughts and behavior of stick figures. Terms include: realtor, mortgage, mortgage brokers, brokers' fees, loan closing, housing boom, tax deductions for mortgage interest, market valuation, house inspectors, appraisals, subprime lenders, "flippers", Adjustable Rate Mortgage (ARM), payment option loans, negative amortization, national lending company, hedge funds, equity risks, securitization, Tranche, ratings agencies, overseas investors, foreclosure, and credit history.

The Skinny on the Housing Crisis ends with the benefits of learning the history of the crisis and how we can use information to make our housing financial lives better in 2010 and beyond. As the housing market begins to show some glimmers of recovery, the information in this book can help readers to avoid mistakes encouraged by people who just want to separate you from your money. Who knows what the future will be in the new more regulated housing market. But, you will learn not make the same mistakes that many did in the past.