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House Poor: Pumped Up Prices, Rising Rates, and Mortgages on Steroids: How to Survive the Coming Housing Crisis Hardcover – November 1, 2005
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Skyrocketing home values, cheap money, and enticing home equity offers in recent years ... millions of us took on bigger mortgages, bigger houses, and bigger debt. But disturbing signs point to the end of the housing bubble:
- Home sales and starts are at all-time record highs;
- In some markets, prices have ballooned by over 100% in the past few years;
- Interest rates are rising, while consumer debt stands at a record 110% of disposable income;
- In some cities, real estate investors are creating "vulture capital" funds to buy condos cheaply when the market collapses.
This indispensable survival guide will address questions that include:
- Should I take equity out of my house in these uncertain times?
- If the U.S. market tanks, how can I sell to foreign investors?
- How can I tell when my hometown is likely to boom or bust?
- Is it too late to buy as a first-time home-owner? How about as an investor?
- What are the best tips to protect my home investment?
- What are the best tips to increase my investment?
- Should I just get out of the market now while prices are still hot?
- Where are America's most vulnerable housing markets?
Today's real estate developments could make you house poor, but this is the book to keep you house proud.
- Print length224 pages
- LanguageEnglish
- PublisherHarper Business
- Publication dateNovember 1, 2005
- Dimensions6 x 0.81 x 9 inches
- ISBN-100060873221
- ISBN-13978-0060873226
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Copyright © American Library Association. All rights reserved
About the Author
June Fletcher has been the Home Front feature reporter for the Wall Street Journal since 1995. In 2005, she also started writing the weekly "House Talk" column for realestatejournal.com, an online section of the Journal.
Product details
- Publisher : Harper Business; First Edition (November 1, 2005)
- Language : English
- Hardcover : 224 pages
- ISBN-10 : 0060873221
- ISBN-13 : 978-0060873226
- Item Weight : 1 pounds
- Dimensions : 6 x 0.81 x 9 inches
- Best Sellers Rank: #6,754,418 in Books (See Top 100 in Books)
- #1,732 in Mortgages (Books)
- #6,046 in Retirement Planning (Books)
- #7,037 in Real Estate Investments (Books)
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The book offers solid, well supported advice about home ownership in 21st century America. The advice is practical, clear, and up-to-date. It reads quickly--in part because of the numerous examples of home buyers and sellers from around the nation--but unlike many such books, it seamlessly integrates a large volume of data from authoritative sources to support conclusions and recommendations. I found especially useful the discussion of the dizzying array of mortgage options now being pushed at consumers. And I found reassuring the distinctions made among the various markets around the US--reassuring because I live in the Midwest where the real estate market is heated but not super-heated.
Fletcher writes with an engaging and fluid style, moves logically from one topic to another, and delivers the kind of information that both first-time and veteran home owners will find valuable.
The book provides survival strategies for the more common real estate scenarios in anticipation of the inevitable land bust. She devotes one chapter each to such topics as buying a home, selling a home, financing a purchase (and the inevitable trouble with ARMs), foreclosure, and buying real estate abroad, among other things. Each chapter has a list of survival strategies, and ends with a survival summary list. I especially liked the list of useful websites at the end of the book, which I am perusing for more information on the land game.
I found the book to be eerily prophetic. However, the author used the doomsaying hook to put before the reader a book on buying (and selling) smart on the eve of a collapse in real estate valuations. Given her more than two decades of experience in and around real estate, and the recent events in the real estate space, she has definitely proven to me that she knows of what she speaks.
Given that this edition of the book is currently out of print, the book (or at least the majority of its contents) may be masquerading as the book, House Poor: How to Buy or Sell Your Home Come Bubble or Bust, which is currently in print.
Also, the book is clearly written. There's no jargon, the chapters are in a logical order and the book is filled with references and real-life examples.
I liked "House Poor" and I suspect most readers will like it as well.
I strongly recommend this book. Your wallet may thank you for it.