Are You Missing the Real Estate Boom?: The Boom Will Not Bust and Why Property Values Will Continue to Climb Through the End of the Decade - And How to Profit From Them Hardcover – February 22, 2005
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Copyright © American Library Association. All rights reserved
From the Inside Flap
Whether you are a first time buyer or already own your home, ARE YOU MISSING THE REAL ESTATE BOOM? brings welcome news. David Lereah, chief economist for the National Association of Realtors, shows why the real estate market is poised to climb higher over the next decade -- and explains what you can do to profit from it.
Calling today's market a "once-in-every-other generation opportunity," Lereah shows property owners and would-be buyers the enormous investment opportunities that exist in real estate. Today's boom is not just driven by low interest rates -- there are a host of demographic reasons that show why real estate will continue to outpace other investment opportunities, from the growing needs of the baby boomer generation to the new ways real estate is marketed and sold.
Are you a first-time buyer? Looking to trade up? There has never been a better time to do so. Lereah explains what to look for when buying a home; which improvements add the most value to your current home; what to consider for when purchasing rental properties; how to evaluate REITS; and discusses the pros and cons of second homes. Full of insider information and advice (including how to analyze local markets and regional fluctuations), ARE YOU MISSING THE REAL ESTATE BOOM? brings readers the information they need to invest with confidence and reap outsized rewards.
- Item Weight : 1.18 pounds
- Hardcover : 288 pages
- ISBN-10 : 0385514344
- ISBN-13 : 978-0385514347
- Dimensions : 6.3 x 0.93 x 9.5 inches
- Publisher : Crown Business; First Edition (February 22, 2005)
- Language: : English
Best Sellers Rank:
#4,915,552 in Books (See Top 100 in Books)
- #5,297 in Real Estate Investments (Books)
- Customer Reviews:
Top reviews from the United States
There was a problem filtering reviews right now. Please try again later.
"Gold Is the New Black - Why Precious Metals Will Never Go Down"
"Oceanfront Property in Arizona - Invest Now to Retirement Riches"
"This Buddy of Mine Has an Investment That Can't Lose - Let Me Introduce You to Bernie"
"How to Lock Yourself in a Burning Barn After the Horses Have Bolted"
A title like this might be helpful, though:
"How to Write Bubble Books to Create Your Own Financial Freedom"
But why this book is important, and why I'd suggest that every investor read it, is because it illustrates exactly the sentiments that lead to absurd behavior in asset markets. Silly assumptions. The belief that the price of some asset will continue to rise. Desperate rationalizations for those price increases. The resulting behavior is not necessarily illegal or unethical (as some other reviewers have suggested), rather it provides a classic case of the mentality that leads to excesses in asset markets. Read this book and learn from it. Because you don't want to get caught up in this kind of garbage.
BTW, I pity the author. Not simply because so many people attack him as an idiot or a shill for the realtors, but because his timing was so appalling. Shiller, who became famous for calling the peak of the dotcom bubble, often thanks his publisher for getting his book out at the right time. This guy's publisher was way way off. (Of course, it also helps if you're not, in fact, an idiot. Sorry David.)
The evidence of a housing bubble is overwhelming. The number of real estate agents has quadrupled in the past few years. You can go into any bar in America and find a 21-year-old nobody talking about flipping homes. Strangely but not surprising, those promised condo developments in Las Vegas and Miami are being cancelled. Even on ABC's "Nightline," Yale University economics professor Robert Shiller, one of the most respected authorities on the economy, has sternly warned that real estate is in for a shock.
And yet, we have the unpronounced king of the real estate industry writing a book about how everything fine. There is no housing bubble. Oh, this is normal, he says, real estate will continue to boom forever.
Lereah is like the shovel salesman at the end of the gold rush. Introvertedly panicked that his industry is about to take a nosedive, he attempts to assure us with those great pearls of wisdom that everyday fools continue to quote:
"Real estate only goes up."
"There not making any more land."
"Baby boomers are retiring at record pace, and are in the market for condos."
"You better buy now before you're priced out forever."
Fortunately, most people aren't fools. People are waking up, and realizing real estate is not as safe as it seems. More so, people like myself are fed up and plainly refuse to buy a house at today's prices.
Don't be duped. The con artists of the National Association of Realtors want you to continue to buy houses at these record prices -- the bigger the price, the fatter their commission. If you are one of those trusting fools that believes the user car salesman when he tells you that car is not a lemon and worth every penny listed on the sticker, then Lereah's your man. Buy his book. Flip some condos. As the other reviewer put it: There's a sucker born every minute (and consequently adding this book to their shopping cart.)
On a side note, it was also quite funny to see Linda Rheinberger, president of the Las Vegas Realtors Association, submit a review on behalf of her crony. Equally funny are those other superficially positive reviews from flippers in trouble in bubble markets, hoping you'll come around to their open houses as they sweat the market which has come to a screeching halt.