Many factors were involved in the recent housing crisis. We watched the housing market crash and banks strugging with enormous unpaid debt, but few really understood how it happened. In The Skinny on the Housing Crisis, Jim Randel explains exactly what took place.
At a time when housing was booming, rules restricting borrowing were more relaxed. Even those who normally couldn’t qualify for a traditional mortgage had options available to them to buy their house. And since real estate was appreciating so rapidly, no one saw a problem with these practices, at least until real estate prices started to decline. So today’s home buyer needs to be savvy in knowing what to do – and what to avoid doing – to make the right purchase.
This “Skinny” features a stick figure couple buying their first home, and shows us the problems they encounter. While it looks a bit like a comic book, it provides a wealth of information on this important topic. And, as always, a bibliography is provided for those who want to do some more research.
Reviewer: Alice Berger