New Book Explains The Great Housing Bubble: Why Did House Prices Fall? By Lawrence Roberts

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New Book Explains The Great Housing Bubble: Why Did House Prices Fall? By Lawrence Roberts

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Irvine, Calif. – “The Great Housing Bubble: Why Did House Price Fall?” contends that a combination of loose lending standards and irrational exuberance on the part of borrowers created a “herd mentality” that drove prices beyond any reasonable valuation measure. The author provides detailed information on the phenomenon of irrational exuberance, the mechanics of lending, the proper valuation of residential real estate, the role of psychology in housing markets, predictions for how the bubble will deflate and so much more. Roberts believes the pain and anguish caused by the foreclosures and bankruptcies resulting from the deflation of the housing bubble was an avoidable occurrence – if the housing bubble had not been permitted to inflate.

He proposes a series of changes to our current system of appraisal, lending and sales of residential real estate. He contends our system of property appraisal needs to be overhauled to rely on valuations based on a properties potential rental income rather than merely verifying and perpetuating irrational exuberance by using the comparative sales approach. Lending standards need to be tighter to ensure those who are loaned money to purchase real estate can comfortably afford the payments necessary to sustain ownership. The documentation standards of residential loans needs to be improved with both parties having more stringent civil and criminal penalties for lending outside of reasonable standards or committing fraud or misrepresentation on a loan application.

Finally, Roberts believes realtors should be subject to oversight by the Securities and Exchange Commission regarding the false statements they routinely make concerning the investment potential of residential real estate.

About the Author and Publisher

Lawrence Roberts, author of “The Great Housing Bubble,” is known as the Housing Bubble Cassandra. He publicly predicted the housing price crash as the primary writer for the Irvine Housing Blog. From his unique vantage point in Irvine, Calif. – the center of the subprime universe – Roberts carefully documents in his book the conditions and practices that inflated the largest real estate bubble in history. He holds a Master of Science in Land Development from Texas A&M University, and he consultants to the land development industry.

Monterey Cypress Publishing is a small press specializing in real estate and personal finance related books, audio books, and video presentations.

Contact:
Lawrence Roberts
Monterey Cypress Publishing
(949) 599-1250
montereycypressllc@gmail.com
http://www.montereycypresspublishing.com/
http://www.thegreathousingbubble.com/
irvinerenter@gmail.com
http://www.irvinehousingblog.com/

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More information can be found online at http://www.thegreathousingbubble.com/

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