Our old pen-pal Jack Lessinger has a new book out: CHANGE
Jack is a rare economist. He studies social trends and connects them to economic trends…and, finally, figures out how they affect the property market.
His book outlines the development of the US property market over the past two centuries in terms of what he calls, “paradigmatic economic changes”. He notes that the shrewd investor always had to stay ahead of the trend. That meant, looking beyond what the then-current paradigm had raised up to what people were likely to want in the future.
Instead of investing in the old colonial regions along the East Coast, for example, an investor in the early 19th century should have looked to the frontier. There, he would have found cheap land…and could have watched it soar for the next 50 years. He should have seen the huge development that would take place in Chicago and St. Louis, for example.