To get the free app, enter your mobile phone number.
How to Profit from the Coming Real Estate Bust: Money-Making Strategies for the End of the Housing Bubble Hardcover – September 20, 2003
The Amazon Book Review
Author interviews, book reviews, editors picks, and more. Read it now
From Publishers Weekly
Positing that "the longer-lived an economic expansion, the deeper the resulting recession," Rubino (Main Street, Not Wall Street) argues that the housing bubble, like other investments, will soon pop. He explains that as stock prices fell in 2001, housing became the safe bet for American investors; but the very factors (i.e., low interest rates) that helped the housing boom will soon change directions. In such chapters as "Bubbles: Past, Present, Future, Foreign," Rubino lays out the last century's history of real estate ups and downs, both throughout the U.S. and in other countries. From here, with handy graphs and charts, he sets out a clear course for homeowners and investors to plan for the future. His solution? He recommends "shifting into reverse, financially speaking, and doing the opposite of what worked in the in 1990s." One way to effect such a reversal is, basically, to convert riskier investments into "cash" (e.g., money markets, bank CDs, and Treasury notes). While Rubino paints a worrisome picture of the future, he does offer readers useful tools and solid plans for preparing for it.
Copyright 2003 Reed Business Information, Inc.
From the Inside Flap
How to Profit from the Coming Real Estate Bust
Money-Making Strategies for the End of the Housing Bubble
The housing bubble is about to burst. Are you ready?
While the rest of the economy teeters on the edge of recession, home sales are booming and home prices are surging. Can this continue?
Not a chance. The housing market is hot because Americans-- apparently convinced that the good times will never end-- are borrowing record amounts of money to buy ever-larger homes. And we've learned to treat our existing homes like piggy banks, borrowing against our home equity to maintain our lifestyles. This boosts the economy but causes us to incur debts that will soon force us to stop spending. The result will be a deep recession, complete with declining home prices and a collapse in the value of housing-related stocks.
And that's the optimistic scenario! With mortgage, corporate, and government debt soaring, the bursting of the housing bubble might set off a chain reaction that wreaks 1930s-style havoc on stocks, the dollar, and real estate.
In clear, easy-to-understand terms, this book shows how real estate has become the latest in a long line of financial bubbles, how the bubble is likely to burst, and how you can both protect yourself and make money as the drama unfolds. You'll also learn:
* Why all "cash" is not equally safe
* Why gold will soar as the dollar falls
* Which stocks will be casualties of the housing bust, and how to profit from their collapse
* How to ensure against-- and even profit from-- a decline in the value of your home
Whether you're worried about the value of your home, your stock portfolio, or your bank account, you'll find answers here. You can't stop what's coming, but you can turn it to your advantage.
Top customer reviews
There was a problem filtering reviews right now. Please try again later.
Real estate is a much more serious bubble than stocks could ever be because not only does it involve the roof over your head, it also constitutes your biggest debt, a huge amount of employment and business activity, and enough political ramifications to cause major tremors under our political landscape in the event the author is correct. Additionally, there is no liquid market for real estate as there is for stocks. That means there is no October '87 to clean out the system in one fell swoop. Real estate busts take years to work through the system, with all the resulting hardships and recriminations that go with the bursting of a bubble.
Rubino wasn't as prescient as Robert Shiller who published "Irrational Exuberance" in the same month as NASDAQ topped out above 5000, but if real estate does crack, this time nobody can say they weren't forewarned.
The first half of the book is an excellent detailing of how the real estate market works, its history, and how the current bubble came to be. This is interesting reading for those who need to get current on the dangerous game we're playing.
The last half of the book gets more specific, giving you a good overview of the alternatives to keeping you money in real estate, including everything from lifestyle changes to tax consequences to his main concern - safety.
All in all, an excellent (and concise - 250 pages) synopsis on what more and more experts are warning is our next major crisis.
Just to be clear about it, this is not a "doom and gloom" or "the sky is falling"-type book. There are no histrionics to be found here, only well-researched facts and common sense presented in a very reasoned manner. Whether you own real estate or are thinking of eventually buying, and whether or not you are convinced that some housing markets are overpriced, this book will give you the background and advice you need to protect your assets and possibly even to profit enormously.
I have to comment on one of the other reviews here, by "A reader from San Diego, Ca," which implies that Rubino ignores the laws of supply and demand. This is an unfair accusation because it cites bad data: as a matter of fact, San Diego's home supply has increased at exactly the same rate as its population growth. They have both increased by 7% in the past 5 years. In the same time period, San Diego home prices have increased by 110%. The person who posted that review is clearly more interested in rhetoric than in facts but I wanted to set the record straight.
I've been taking these strategies & spearheading them in my own Life.
I've begun to see them working for me & it is a Life changing process for the better!
You have Got to get & read this book!
Reading this book now is a waste of time.
Most recent customer reviews
in real estate, would benefit from reading this book.Read more