I would think that if you can't afford a home now renting is your only option.
Rents will rise and occupancy rates will fall. Although I think that all of the
houses that the government owns now or will own in the future will become
rentals and then all bets are off.
--- On Tue, 10/14/08, oakdorf <[EMAIL PROTECTED]> wrote:
From: oakdorf <[EMAIL PROTECTED]>
Subject: [AsburyPark] Looking back at the Crystal Ball.....
To: AsburyPark@yahoogroups.com
Date: Tuesday, October 14, 2008, 8:22 PM
In May 2005, Greenspan warned of the "bubble".
We added some of our (my own) research into a short article on
RentLaw.com and featured the following book:
"How to Profit from the Coming Real Estate Bust: Money-Making
Strategies for the End of the Housing Bubble " Written in 2003....
Of course when you walk through the bookstore or browse online, you
think there's a title for everything that should be common sense -
"how to get married in 21 days or less" or 5,000 books on "how to
cook italian like your jewish mother..."
So playing armchair qb, the summary from Amazon (the next best thing
on the net) is as follows:
---
>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.
Product Description
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.
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