Reading Ideas About Economics and Foreclosure Issues

Here are two interesting possibilities for your reading list, if you’re interested in books that address the recent changes in lending practices, and what brought about those changes.

One of these I’ve already read, and a new one I came across in the Wall Street Journal is now on my ‘to-be-read’ list for the near future. If you’re in the lending or real estate industry,

you might find these books a little more compelling than some people. However, if you want to get a quick look at how things work from the ‘inside’ without too much brain damage, pick up my first choice: Confessions Of A Sub Prime Lender.

The first one on my list is a book I read several weeks ago by author Richard Bitner called Confessions of a Subprime Lender: An Insiders Tale Of Greed Fraud And Ignorance. It’s a pretty easy read and very compelling for anyone that has an interest in how one of our largest, life-time investments can be affected.

With thousands of people having concern about the value of their home, and continuing to worry about declining prices, we’re lucky to be in a market in Colorado and more specifically the Boulder Valley area, where real estate prices are holding steady for now.

The other book on my list is by author Robert Shiller, called: The Subprime Solution: How Today’s Global Financial Crisis Happened, and What to Do about It.  Shiller, an economics professor at Yale University, suggests on the first page of his book that the ramifications of the subprime mortgage debacle will be felt throughout the economic and credit community for a long time. The cover implies that Shiller offers a solution to move forward and prevent futher economic trouble.

I hope that you will consider reading either of these, if you haven’t already. I’d be very interested in your thoughts on the current credit and real estate condition as you see it, especially if you have a thought on it that doesn’t come from the national or local television and newspaper media.

Those of you already working with me, especially you investors, are already taking an active part in repairing this delimma on a local level to help take empty houses off the market. Getting new homeowners into these homes and getting renters back into suitable housing is a start.

Let’s hope that the few loan programs, and other financial mechanisms currently available to keep our real estate and lending system moving, will remain in place long enough to make a difference.

Thank you for reading my blog. If you are thinking about moving, please contact me so I can help you with your plans.

-Zachary Epps

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