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How the homes we live in turned into the monsters that ate our economy and how the United States became a nation obsessed with real estate. Our Lot tells how an entire nation got swept up in real estate mania, and it casts the business story—the collapse of the mortgage markets and its global impact on the economy—as the product of a decades-long project of social engineering by the U .S. government to make homeownership possible for those who had never been able to attain it before. Based on original reporting, Our Lot looks at the boom as experienced by ordinary Americans, and examines how our own economic anxieties and realities, combined with greed and delusion on Wall S treet and in Washington, inflated the real estate bubble. In accessible language, the book helps homeowners and would-be homeowners understand what really happened, how it has affected our homes and communities, and how we can move on to a future we’ll want to live in.
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3 Comments on Our Lot: How Real Estate Came to Own Us
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During the past few years have taken pride in our creative Wall Streeters. Then, Ms. Katz has to break in the "Our Party". It turns the current real estate bubble is a nearly century social and financial engineering by the U.S. government, and has now, although to a lesser extent, at least two times before. It all began in the Hoover days, with the liar loans, mortgage securitization, tranching, low / no-down loans, "halt" the responsible and flipping. Yes, today, the result may not surprise anyone who knows their history, financial (eg, Katz), and we can not even credit from Wall Street is creative. Truly, the road to hell is paved, repaved and repaved – with good intentions (to build stronger families and more pleasant community, the revitalization of the economy, to help minorities). Indeed, this crisis does not bring two innovations to Katz. We have to build homes for life, to the building, only to resell within 5 years (much cheaper and faster). I discovered, many foreign investors "(nerds) to share. Yes, this file (the experience, not books) on "Lessons Unlearned." I'm still proud of Wall Street – home of Bernard Madoff, Citibank, AIG, Lehman Brothers, the short-term thinking, CDOs and experts bond rating companies!
This book is up there with John Talbot of books detail the causes and effects of the housing bubble to America. It is a "page Turner, that" the name and analyzes in depth on the gullibility of Americans, who should have known much better, to "get-rich-quick" Ponzi schemes, which simply do not have meaning, even if they do not have imprimater Alan Greenspan and both Republican and Democratic presidents. Perhaps most importantly, Alyssa Katz shows us why housing will not be an accident soon as it was at any time of his final evil to us was to convert the nation to voluntarily debters who literally sold the debt to wage slavery and poverty inevitably while enriching a small number of creditors.
If at all curious about the disaster we now face in the housing market, this is an excellent overview. It focuses on the current crisis in a broad context, showing how even well-intentioned changes in housing policy in recent decades has created the ground for the housing bubble and the accompanying toxic mortgage debt crisis. "Our Party" is effective at both micro and macro – Alyssa Katz supported both the complex political and personal stories of the tragic stories of people caught up in a housing bubble with sensitivity and depth. She also raises some fundamental questions about the "American Dream" in the house of the owner, and whether we need new dreams. A great work of journalism.