Wednesday, April 11, 2007

Two Reviews on Amazon For David Lereah's New Book

The first review of David Lereah's new book, All Real Estate is Local, is glowing. The reviewer gives it 4 of 5 stars.

A very useful read. Mr. Lereah provides excellent insights about real estate investing, whether it's labeled "buyer" or "seller" market. In very readable style, he outlines the factors we all should look into, when buying our own home or considering other real estate investment. Former US House Speaker Tip O'Neill was right on the money about politics being local...and David Lereah is on the money (for all of us) about the LOCAL factors affecting real estate.
But who is the reviewer? Robert N Authier. A Google search for Robert N Authier reveals that he is a Realtor. A fellow housing cheerleader supporting thier leader. Bravo!

The next review attacks the book and David Lereah stating that:

Mr. Lereah likes to publish books. Tragically, they have almost comedic timing. He wrote a book on how to get rich in tech stocks that came out in 2000, when the tech stock market collapsed. His previous book was about how the housing market would continue to grow at double digit rates through the end of the decade. He then re-released it when it was obvious that there was a bubble with a new title on why the real estate bubble won't bust. That brings us to his latest book All Real Estate is Local. Now he tries to backpedal off of his hyping of the bubble areas and start bombastically declaring that even though the national trend of inflating housing prices across the country has stalled and is reversing, you can still find good deals if you start focusing on tinier and tinier sections of housing, down to individual neighborhoods. The cheap, easy money that fueled the boom is on the way out, and it will be harder and harder to qualify for loans and interest rates are likely to keep rising. The net result is stagnant or deflationary housing prices.

He's been wrong in his previous two books, and now he's swinging for the fences at a ball that's in the dirt for his third. Instead of saying "Buy everything!" like his last books, now he's saying "Move your buying to an area that isn't already wildly overpriced!" So write those checks for investment homes in Topeka, Kansas everybody!

If you want a book to educate you about real estate investing, this isn't it. If you want a book that tries to convince you to stuff money into some realtor's pocket, then this is the book for you. If you just want to buy yourself a home, forget all the real estate books and calculate your renting costs vs. your owning costs, and then make an informed decision as to when you want to purchase
Good job attacking Mr. Lereah and his books. This blog will continue monitoring the reviews of Lereah's latest book.


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