Who Says No One Could Have Seen the US Housing Crash Coming - A Book Review

By Lance Winslow
Many politicians and even the media claim that no one saw the housing bubble burst coming. Well, that is so silly, it's almost ludicrous as anyone that studies real estate cycles, or economics would agree. Still, if you happen to be amongst the masses who actually believe such purported media claims, I'd sure like to recommend a very good book to you. The book is called:

"The Coming Crash in the Housing Market; 10-Things You Can Do Now to Protect Your Most Valuable Investment," by John R. Talbott; McGraw Hill, New York, NY; (2003); ISBN: 0-07-142220-X.

The first chapter is titled; "Housing Prices Certainly Look Awfully High," and to imagine that first chapter title of this book was written in 2003, long before the insanity of the bubble that took us well into 2005. Chapter 4 goes into much detail; "Why a Crash is Likely." In chapter six he gets into the regionality of the housing bubble and gets it almost exactly spot on, that chapter is titled; "Are Home Prices a Regional or National Problem?"

In the final chapter and summary he decries the policies and viability of Fannie Mae and Freddie Mack, boy was he right. So, who is John R. Talbott? Well, he was a former VP of investment banking division of Goldman Sachs, and a visiting scholar at UCLA's Anderson School of Business. So, you might say he had somewhat of an inside track, but really just about anyone who'd lived through the S&L Crisis or was a real estate agent in 1993 understood good and well, where we were headed.

The charts and graphs in the book tell it all, and predict the calamity that was allowed to build the bubble to an incredible and obviously unsustainable point. Although he called the problem much earlier, those who let it build way beyond the point of return are to blame. The continuous propping up of the status quo at Fannie and Freddie ended in disaster as we all know.

Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes that if you have diabetes you need to understand the information on the disease; diabetes info [http://type1forum.com/]

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