Underwater

How Our American Dream of Homeownership Became a Nightmare
 
 
Thomas Dunne Books (Verlag)
  • erschienen am 14. Juli 2020
  • |
  • 288 Seiten
 
E-Book | ePUB mit Adobe-DRM | Systemvoraussetzungen
978-1-250-24181-8 (ISBN)
 

His assignment was to write about a real-estate frenzy lighting up the Redneck Riviera. So Ryan Dezember settled in and bought a home nearby himself. Then the market crashed, and he became one of the millions of Americans who suddenly owed more on their homes than they were worth. A flood of foreclosures made it impossible to sell. It didn't help that his quaint neighborhood fell into disrepair and drug-induced despair. He had no choice but to become a reluctant and wildly unprofitable landlord to move on. Meanwhile, his reporting showed how the speculative mania that caused the crash opened the U.S. housing market to a much larger breed of investors.

In this deeply personal story, Dezember shows how decisions on Wall Street and in Washington played out on his street in a corner of the Sunbelt that was convulsed by the foreclosure crisis. Readers will witness the housing market collapse from Dezember's perch as a newspaper reporter. First he's in the boom-to-bust South where a hot-air balloonist named Bob Shallow becomes one of the world's top selling real-estate agents arranging condo flips, developers flop in spectacular fashion and the law catches up with a beach-town mayor on the take. Later he's in New York, among financiers like Blackstone's Stephen Schwarzman who are building rental empires out of foreclosures, staking claim to the bastion of middle-class wealth: the single-family home. Through it all, Dezember is an underwater homeowner caught up in the mess.

A cautionary tale of Wall Street's push to turn homes into assets, Underwater is a powerful, incisive story that chronicles the crash and its aftermath from a fresh perspective-the forgotten, middle-class homeowner.

weitere Ausgaben werden ermittelt
Ryan Dezember

I
1. THIS IS THE ONE
2. THE CONDO GAME
3. "THEY NEVER SING SONGS ABOUT A PILE OF RENT RECEIPTS"
4. SWIM WITH THE DOLPHINS
5. THE BEACH PAC
6. TROUBLE ON MONKEY ISLAND
7. "LIKE WORKING AT WENDY'S"
8. FLIPPED
9. WANNA BUY A BRIDGE?
10. "THERE'S A MILLION DOLLARS TO BE MADE HERE"

II
11. INTERESTONLY(TM)
12. OVER THE HEDGE
13. "WE'VE HAD QUITE A FEW PEOPLE WALK AWAY"
14. SYSTEM ERROR
15. "THE WHOLE CAPER WAS OVER"
16. STREETS WHERE NOBODY LIVES
17. BUYER'S REMORSE
18. THE SPILL

III
19. FOR RENT
20. MEET YOUR NEW LANDLORD
21. JOANIE
22. FOR SALE
23. WALKING AWAY
24. FROM THREE HOUSES TO FOUR
25. COMPANY TOWN
26. CUT DOWN
27. EPILOGUE

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