Real estate is sold as a much safer investment than the constantly
fluctuating stock market. Share price volatility is compared
unfavourably with the steadier and impressive gains made from real
estate which is, we are told, 'as safe as houses'. As millions of
Americans - and countless others in the Western world - have
recently found to their cost, house prices can also suddenly and
dramatically drop. Yet no other text on real estate, either current
or from the past, mentions this fact, reinforcing the perception
that real estate is an almost risk-free investment. Now for the
first time, and long overdue, a book that details and explains the
cyclical nature of real estate. The latest real estate downturn in
the USA (and in other countries) is just one of many that have
occurred since 1800 with astonishing regularity. This book is the
story of the American experience of those downturns: the move out
of recession, how the banking system facilitates that move, the
boom and the characters that shaped it, the bust and accompanying
bank failures, and then the recession, or worse, depression. This
is always followed by a new cycle repeating each phase again,
varied only by the new ways bankers find to avoid the regulations
put in place after each collapse to ensure it will never happen
again. The Secret Life of Real Estate and Banking explains, quite
simply, how the real estate cycle originates, offers a fascinating
study of US history to illustrate the stages through which each
cycle passes, then explains why this cycle of boom and bust must
repeat, given present economic conditions. Real estate can only be
a truly winning investment if you know the cycle. For investors,
the author has designed an 18-year Real Estate Clock which plots
the progress of the cycle, with tell-tale signs so that investors
can recognise exactly where they are in the cycle at any point in
time and so help them decide whether to invest, sit tight or sell.
He has refined this clock over a period of many years and those who
have attended his courses have found it an invaluable and
remarkably accurate guide for their investment strategies, not only
in real estate. With its invaluable insights and practical
guidance, The Secret Life of Real Estate and Banking is a book for
both novice and experienced investors alike who want to know why
the real estate cycle moves as it does, learn how this movement can
be forecast well in advance, and more importantly, wish to learn
how to profit from this knowledge. A must read for any serious
investor.
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