Boom boom bust

I couldn’t help it. It seems I’ve developed some fascination seeing books on Amazon that reveals failed forecasters/advisors who spoke so positively of the markets they had no idea what was to come.

Here’s another one.

REboom

And here are some of the reviews (taken from Amazon):

“An invaluable book . . . Today’s real estate markets are booming and Lereah makes a convincing case for why the real estate expansion will continue into the next decade. This book should prove to be a truly practical guide for any household looking to create wealth in real estate.” —DEWEY DAANE, FORMER GOVERNOR OF THE FEDERAL RESERVE BOARD OF GOVERNORS

“An important book, whether you agree with the author (as I do) that housing will remain an excellent investment or are convinced that home prices are poised for a plunge, David Lereah lays out a compelling vision of housing as a continuing positive investment—and how you can profit from real estate if you already own the home you live in, are looking to move from rental housing to an owner-occupied home, or want to use real estate as an investment.” —DAVID BERSON, CHIEF ECONOMIST, FANNIE MAE

Look at whose comments they were – one a former Fed governor, the other an economist from Fannie Mae, which FYI (wait, you probably know already) was one of the first casualties of this crisis.

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