Skyscraper Dreams : The Great Real Estate Dynasties of New York

Rating:
Summary: Schachtman explains how the Dow Jones bubble will burst.
Review: Never buy a building. That's the rule which allowed penniless refugee families to create the New York skyline over two centuries. People with more money than sense should read Schactman's excellent history of making and keeping family wealth. The obvious message is that land currently not in its "highest and best use" is the fundamental investment vehicle. REIT's are vivid proof that the Wall Street mentality does not comprehend the difference between real and financial assets. We will see a switch from absurd PE's to neglected urban locations . Re-print this important book!

Rating:
Summary: Schachtman explains how the Dow Jones bubble will burst.
Review: Never buy a building. That's the rule which allowed penniless refugee families to create the New York skyline over two centuries. People with more money than sense should read Schactman's excellent history of making and keeping family wealth. The obvious message is that land currently not in its "highest and best use" is the fundamental investment vehicle. REIT's are vivid proof that the Wall Street mentality does not comprehend the difference between real and financial assets. We will see a switch from absurd PE's to neglected urban locations . Re-print this important book!