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Purchase The Skinny on the Housing Crisis: What Every Homeowner and Homebuyer Needs to Know from

The Skinny on the Housing Crisis: What Every Homeowner and Homebuyer Needs to Know
by Jim Randel
Search Amazon for other books by or about Jim Randel.

Reviewed by: John L. Hoh, Jr.

In today's society we have an overload of information and data. Books that give advice seem voluminous and wordy. If only there were a more concise way of sharing vital information.

The Skinny On... is a series of clever, humorous, and entertaining books that teach significant lessons in an informal and engaging fashion. Stick figures in dialogue help the reader learn concepts and ideas--with a smile, of course. Consider the wish in the first paragraph answered. And each book can be read in about an hour (your rate of reading may vary).

These books also contain bibliographies for further reading. I admit these books are a tad simplistic but are good introductions into their topics. Further reading is recommended.

This volume deals with the recent topic of the housing crisis that began in 2008 (I contend the trouble started earlier and came to a head in 2008) and is still being felt today. The author does look at all aspects of the crisis, where blame can be meted, and avoids laying all the blame on one particular entity. From the perspective of a being involved in real estate investments, the author takes the opportunity of the crisis to explain about the housing market, market bubbles, and how one can invest wisely in real estate.

The author points out the fallacies one may see on TV or read in the newspapers or even what real estate salespeople or mortgage brokers' claim. He describes the tricks that are used to sell and finance houses, tricks that came back to haunt many lenders, and borrowers, later. The author explains why buyers need to beware of so-called "standard forms."

The book explains such things as:

  • Why did lenders lend to people who would probably be unable to repay the loan?
  • What is the meaning of names like "piggyback mortgage"?
  • What kind of scams did sellers commit?
  • How can people learn the true value of properties?
  • Are there too many real estate agents and is this causing a problem?
  • Where should people go to get a building inspector, an appraisers, and an attorney?
  • What happens to a mortgage loan after the borrower signs it?

The book's stick figures are a husband and wife who discuss the benefits of investing in a house purchase. The husband is is very eager to invest. The wife is cautious in the beginning. She eventually agrees to the purchase, but soon learns it is a mistake. How can this couple get free from this bondage?

Purchase The Skinny on the Housing Crisis: What Every Homeowner and Homebuyer Needs to Know from

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