Our Lot: How Real Estate Came to Own Us MOBI ↠ How

Our Lot: How Real Estate Came to Own Us MOBI ↠ How


  • Hardcover
  • 278 pages
  • Our Lot: How Real Estate Came to Own Us
  • Alyssa Katz
  • English
  • 02 August 2016
  • 9781596914797

10 thoughts on “Our Lot: How Real Estate Came to Own Us

  1. Jason Jason says:

    Everybody knows bits and pieces about what caused the real estate boom and bust in America No doubt most of you have experienced rapid growth in home wealth followed by a catastrophic drop in value But until you digest a comprehensive review of the mitigating factors from all components of the mortgage economy you will not have a complete balanced and mature understanding of the current real estate crisis Like politics if you don't vote you don't have a right to complain; similarly if you haven't read a good book about the real estate crisis you won't be able to speak eruditely about it This book provides that educationAlyssa Katz an experienced journalist investigates several different components of the mortgagae industry She begins by tracing a public policy that strongly promoted the growth of home ownership beginning with the New Deal through 2009 during both Democratic and Republican administrations She then exposes the parts played by mortgage brokers mortgage investors mortgage corporations Freddie Mac Fannie Mae grassroots advocacy groups land developers home builders the Federal Housing Administration and real estate flippers She reserves her most vitriolic criticism for investment banks and mortgage lenders The book also reveals the particular real estate pains experienced in the most hard hit areas Michigan California Cleveland Ft Myers Atlanta and New York City Our Lot How Real Estate Came to Own Us is well paced easily readable despite some complex topics and carries throughout a theme of human suffering by the single family home owner at the teeth of this mortgage machine Unfortunately I think she pulls the punch she could have delivered to the frenzied home buyer which played a large roll in the froth that surrounded home sales She makes only glancing remarks about the culpability of individual home buyers that over borrowed during the last decade The book is well cited with a glossary and includes an epilogue that reaches out to readers with a human touch by exposing the author's own experience with falling home prices overleveraging and her acute concern about the future of real estate investment Alyssa Katz also makes a prediction that's terse but tantalizing I award 4 stars for an engaging book about a pervasive current problem that affects all Americans To earn the final star I would liked to have seen some charts highlighting the real estate crisis across national demographics and some charts that better than words capture the meaning of so many numbers


  2. Tamlynem Tamlynem says:

    I've had countless conversations about the economy and the housing bubble since the recession began but Alyssa Katz really informed me in specifics about the long and short term conditions behind the mortgagehousing crisis This book read like a really long but interesting in depth Mother Jones article I recommend it for anyone who's gotten into arguments with others about who's to blame for this economy and our messy land use results


  3. Christina Christina says:

    Subtitled “How Real Estate Came to Own Us” Katz’s book attempts to explain the explosive growth of the United States real estate market and the development of mortgage backed securities leading to the housing bubble and the economic crisis of 2008 Starting right at the start of the Great Depression Katz explains how President Roosevelt saw construction of homes — not just the bridges and tunnels history books highlight — as a key tool to jump starting the economy and putting Americans back to work which lead to one of the first mortgage crisesThe government pushed to open up borrowing for Americans particularly after World War II through government backed enterprises These enterprises however preyed upon the poor charging unbelievable interest rates and supported discrimination against people of color while encouraging white Americans to move to newly developed suburbsThe dismantling of the banking regulation under President Reagan allowed the traditional lenders of home loans and in hindsight rather risk adverse savings and loans establishments to become involved in risky investments leading to the SL crisis of the 1980s and 1990s The response to this crisis according to Katz was to further dismantle the regulatory separation between savings and loans establishments and investment banks under President Clinton who made it a national priority to push for Americans particularly people of color to purchase homes This push was also championed by President Bush and banks became these behemoth monstrosities where lenders were told to push sub prime mortgages while the banks that owned them traded these toxic mortgages at huge profit margins Too many hands in the cookie jar yet too big to failThe information about housing crises pre 2008 was entirely new to me although I had read about the push to turn all Americans into homeowners by both Presidents Clinton and Bush before and knew that policy had contributed to the current financial crisis I had never heard of home construction being a cornerstone of the New Deal long before the GI Bill passed following World War II which provided low interest mortgages to returning white servicemen and while it wasn’t always the easiest story to follow it is one that I was glad to finally be hearing Once again it seems that no one has been paying attention to history because much of what occurred then resurfaced again during the current crisis because just today I read about how home construction needs to be jump started once again in order to raise the United States out of its current recession Never mind how such policies have lead to a series of unstable booms followed by crippling busts; never mind that the Millennials who should be buy homes right now are crushed by student loan debtMy enjoyment of the book however declined towards the end as Katz moved onto to present day concerns shoddy construction in California mortgage fraud in Atlanta dubious land schemes in Florida and efforts to abolish rent control in New York The addition of these stories I think are to help the reader feel less well helpless with the whole situation and while I certainly am open to hearing about these particular problems such regionalism and specifics pull attention from the historically based big picture critiuing narrative she had been constructing for the reader


  4. Dinah Dinah says:

    Through no fault of the author I just couldn't make it through this book The research is top notch Katz does a wonderful job of telling the story of the mortgage crisis through the lens of individuals families and communities and I truly believe that she is doing so in the smallest words possible But the whole system is set up with the express purpose of making it hard enough to understand that we peons of economics illiterate in the jargon of the financial sector get frustrated and uit trying to understand the wool being pulled over our eyes especially because we couldn't do anything to stop it if we wanted toI will say I was able to hang on to the narrative for long enough periods at a time to get mighty angry at just about everyone which is the result of or less all investigation into the roots of our current financial crisis The whole thing feels pretty hopeless and as an individual helpless But Katz gets props for striking a tonal balance avoiding that patronizing thing that keeps happening when they call the victims of predatory lending poor ignorant snobs who just didn't know better gosh darn it but also making it clear that all the research in the world couldn't have protected buyers from a market bent on playing them for every dime they're work And she captures beautifully the desperation that led people into the thicket of real estate cons those people who under normal circumstances probably would have been able to smell the scam but were hungry enough for hope in the American Dream to cast caution to the wind and literally invest in some swampland in FloridaAgain no fault to Katz on this book which is thorough and as plain spoken as possible if perhaps a little long She's clearly a gifted historian and investigative journalist I've just never been able to keep my eyes on a train wreck for very long once it becomes clear that I have no power to fix it


  5. Qwerty Qwerty says:

    Our Lot provides a good synopsis of the national obsession with real estate The early chapters explains how housing advocates pushed for greater lending to minority and other underserved communities that were subjected to historic discrimination through red lining and blockbusting It also explains how greater home ownership by minorities was promoted as a national goal by successive administrations ie Clinton and Bush For a better explanation of how subprime lending lead to the current economic crisis I would recommend Chain of Blame which better explains the role of exotic mortgage products and derivative securities promoted by home lenders and Wall Street The later chapters of Our Lot discuss such varied topics as shoddy construction in California mortgage fraud in Atlanta dubious land schemes in Florida and efforts to abolish rent control in New York The last chapter discusses how government policy has promoted home lending over renting by for example employing the mortgage tax deduction which the author views as a regressive tax and lack of protection for renters Overall I would recommend this book to those interested in learning about the book's subtitle How Real Estate Came to Own Us


  6. Brennan Brennan says:

    Not a book I'd be accused of reading normally but Our Lot is a digestible review of the Housing meltdown that came in late 2007 Katz details; with various characters locations and housing types how so many people came to sign up for life long debt by making a house the new vehicle for financial investment While its been accused of being a little biased against the financial industry I thought this book did a successful job of being even handed regarding the crisis While the housing industry including bankers and wall street has a share of the blame the tough thing to swallow while reading this is how easily duped some reasonably educated people can be The book while a bit fact heavy at times should probably be read if only to be a bulwark against the reader making similar mistakes which will undoubtedly happen given the cycle of deregulation That being said the book seems to repeat itself understandable give the topic and you might have the experience of dejavu from chapter to chapter Grab a beer this book is a downer but one you can't afford to ignore


  7. Caroline Herbert Caroline Herbert says:

    First full disclosure the author is a friend from college which is how I came to read the book I'm glad I did because I found it to be an engaging story tracing back to the origins of our current mortgage and creditdebt crisis Alyssa has a talent for explaining complexities like mortgage backed securities and financial deregulation in terms this layperson can understand I now have a much better grasp of how we got ourselves into this mess Plus her talent for storytelling made the vignettes of the individuals affected by the crisis for good or ill compelling reading Highly recommended for an informative and engaging breakdown of housing policy and ultimately what it means to have a home


  8. The Angry Lawn Gnome The Angry Lawn Gnome says:

    There was some uite interesting historical background to the housing crisis of 2006 ? provided early on in this book that I had not heard before Going back to the Johnson and Nixon administrations Unfortunately the closer the book drew to the present the superficial the coverage of the topic seemed to becomeBut one person's superficial is another's excellent summary so perhaps for someone who does not know much about what happened and is looking to become informed about this whole issue from an eagle eye view this might work well on that level as well Also blessedly little polemic Katz seemed to be trying to be fair to all parties concerned which made the book far less irritating than many of its ilk


  9. Aaron Aaron says:

    The first half of the book was uite good detailing the history of home ownership and how it turned into a frenzy after 2001 The second half veered into a history of land schemes in Florida and peculiarities of New York City real estate and was less interesting to me The author's defense of rent control laws was also a bit bafflingStill it's a good read about the greed fraud and stupidity that was the housing for the first few years of this century


  10. Kelly Kelly says:

    If it's not obvious I love reading about real estate Not so much on the how to side but on the socialhistoricaleconomical aspects This was a really readable history of lending and mortgage practices and how we got to where we are now with foreclosures As I read it I thought it was fairly even handed on the blame aspect I think we've glossed over people's greed too much in the current environment and I think Katz covered that fairly well


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Our Lot: How Real Estate Came to Own Us❁ [EPUB] ✹ Our Lot: How Real Estate Came to Own Us By Alyssa Katz ➚ – Centrumpowypadkowe.co.uk How the homes we live in turned into the monsters that ate our economy and how the United States became a nation obsessed with real estate Our Lot tells how an entire nation got swept up in real estat How the How Real Epub Ù homes we live in turned into the monsters that ate our economy and how the United States became a nation obsessed with real estate Our Lot tells how an entire nation got Our Lot: ePUB Ò swept up in real estate mania and it casts the business story the collapse of the mortgage markets and its global impact on the economy as the product of a decades long project of social Lot: How Real Epub µ engineering by the US government to make homeownership possible for those who had never been able to attain it before Based on original reporting Our Lot looks at the boom as experienced by ordinary Americans Lot: How Real Estate Came Epub / and examines how our own economic anxieties and realities combined with greed Lot: How Real Estate Came Epub / and delusion on Wall S treet and in Washington inflated the real estate bubble In accessible language the book helps homeowners and would be homeowners understand what really happened how it has affected our homes and communities and how we can move on to a future we'll want to live in.


About the Author: Alyssa Katz

Alyssa Katz How Real Epub Ù is a member of the editorial board of the New York Daily News She is the author of Our Lot How Real Estate Came to Own Us Bloomsbury about the making Our Lot: ePUB Ò of the mortgage crisis Alyssa was previously editor of The New York World an investigative newsroom embedded at Columbia Journalism School and of City Limits an award winning magazine investigating the institutions and poli.