Tom Graneau, a financial management coach, pinpoints owning a home as the black hole for the American dollar. This timely masterpiece exposes the biggest shakedown in consumer spending—home ownership.
Driven by the American dream of grandeur and prosperity, buyers purchase their homes as “smart investments” when in actuality, the best they can hope to get is zero percent return. More commonly, owners lose an enormous amount of money on the deal, driving themselves even deeper into debt as they pour their hard-earned income in mortgage payments and maintenance costs.
In Renters Win, Home Owners Lose, Author Tom Graneau prudently shows readers how to avoid getting trapped in the biggest scam in the country, endorsed by national and local governments and the housing and mortgage industries. Tables, graphs, and various statistics are prominently laced throughout the book to expound the obvious, tangible advantages that renters have over anyone preparing to buy a home.
For those already owning a home—fear not. Graneau concludes by outlining winning strategies and solutions to make their experience a little more agreeable.
Renters Win, Home Owners Lose is a perfect eye-opener for renters, first-time home buyers, and those who plan to upgrade to a second or third home!
I’ve heard this concept before. Don’t own your home, pay rent and use the differential to invest. The people who suggest this always seem to have some great financial details to back up their concept, and look down on the rest of us with a sort of benign amusement.
However, the author does make some interesting arguments, and some of his advice for people who do decide to buy a home is good reading.
I would say that if you are planning on buying a home in the near future and, lets face it, with property process and interest rates right now who wouldn’t, then this book is definitely worth a read just to make you more aware of some of the pitfalls. But, given the opportunities in real estate right now, this book isn’t enough to discourage me from buying a home.
Thanks to Jaime at Pump Up Your Book Promotion for the opportunity to review this book. You can learn more about Tom Graneau here. You can read additional reviews here. You can purchase your own copy here. You can find other reviews and tour stops here.