Advice on how to get rich from David Bach
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With my new book, “The Automatic Millionaire Homeowner,” I aim to demystify the process of home buying and provide you with a common-sense way of looking at a real estate market that often seems crazy. If you’re a renter, the book is meant to give you the motivation as well as the tools to make the dream of homeownership a reality. If you already own a home, it will teach you how to make it the foundation on which a lifetime of financial security can be built. What follows is a sneak preview of the book, which launches in March.The Homeownership Dream — and the Results
From 2001 to 2005, the average homeowner saw the value of his or her house jump by more than 50 percent. Many homeowners doubled, tripled, and in some cases even quadrupled their wealth in just five years because of exploding real estate values.
Imagine that. Buy a home, live in it, build your wealth, get great tax deductions — and then retire rich. It may sound too good to be true.
Indeed, plenty of experts will tell you that the housing boom never happened. According to them, what we’ve experienced over the last few years was just a “bubble” that’s going to pop any minute now. Others insist that whether it was a boom or a bubble, it’s over. According to them, it’s now too late to get in on the party.
The American Dream Is No Fantasy
I think both these positions are wrong. My view is that the American dream of building a nest egg by owning a home is no fantasy. Homeowners have been getting rich off their real estate for years, and they will continue to do so in the future.
How can I be so confident about the real estate road to riches? Well, U.S. real estate values have been going up steadily for nearly four decades — an average of 6.3 percent a year since 1968, which is when the National Association of Realtors first started keeping track. According to Freddie Mac (a.k.a., the Federal Home Loan Mortgage Corporation), since 1950 U.S. house prices have never experienced a year-to-year decline nationally. Compare that to the S&P 500, a major stock-market indicator that has had no less than a dozen down years in the same period — or the market for U.S. Treasury bonds, which has fallen in 17 of the last 55 years.
Of course, just because home prices have been rising for the last half-century doesn’t mean they’re going to continue doing so. But real estate’s phenomenal track record is not the only reason you should want to become a homeowner. Here are five more.
There’s more of course, but I figured I’d stop here. You can click the link to read the full advice.
Let’s face it, posted in 2006, this advice this advice didn’t work for everyone. But that’s because they didn’t buy in the Real Bay Area. Now’s your chance to become rich.
Become an Automatic Real Bay Area Millionaire today!


September 14th, 2009 at 3:16 pm
Sounds like a great book! May I suggest, as an additional reference, my book “Getting To Closing” which walks a buyer through each step of the application and closing process. The book contains information I gave my clients during my ten years as a mortgage broker.
September 14th, 2009 at 3:52 pm
being a repo man is more profitable these days
if even 50% of the dolts signing mortgages during the bubble actually understood what they were signing, maybe the bubble wouldn’t have happened, so maybe your book isn’t as ridiculous as the one burbed posted.