Real Estate Opportunities in Bear Markets – Wealth Creation Book Review

The global economic crisis and the complete collapse of the residential real estate market in the United States caused massive foreclosures and hardship for millions of Americans. Many people bought beyond their means, and as the recession worsened, many lives were lost due to their jobs and being unable to make the payments. Eventually, the government stepped in and stopped the foreclosures, but so many people have lost their houses that the inventory of houses for sale is quite high and therefore the price of houses is quite low.

Interestingly, there are a lot of people who are making quite a bit of money buying cheap real estate. Many investors from China are now driving around in buses buying up all the foreclosures. Foreclosure tourism if you will. How could this happen? Lots of people still wonder, but I certainly don’t. Why do you ask?

Well, I saw it coming, as it reminded me of the market in 1993. And because I read a very interesting book in the early 90’s, one that I would recommend to you and it still sits on the shelves of my personal library at home. The name of the book is;

“How You Can Benefit from the S&L Bailout; Why There’s Never a Better Time to Buy Real Estate”, by Sonny Block and Caroline Jank, 1991.

Why it happened? It’s the title of the first chapter, reminding us of many of the book’s chapters on this latest residential property collapse, which are currently on the shelves of major bookstores. In this book, he suggests the best way to find salvage properties, work with purchase contracts, find cloud-free titles, and invest for the future. Much of the advice given then is also good advice today. Maybe you should consider all this.