“This book couldn’t be timelier. With hundreds of thousands of Americans expected to lose their homes because they took out mortgages beyond their ability to pay, it is clear that home buyers need assistance—beyond the reassurance of the mortgage broker trying to close the deal and get his commission. This book, written in an easily accessible manner, provides that assistance; it lays out the economics of buying, owning, and financing a home.” –Joseph Stiglitz, Columbia University, 2001 Nobel Prize in Economics   “The purchase of a home is the most significant investment decision confronting nearly all adults. Yet sound advice, untainted by the self—interest of real estate and mortgage brokers, is extremely scarce. In Houseonomics, the Smiths provide simple and understandable answers to the vexing questions surrounding homeownership, making it a valuable resource for anyone serious about their financial future.” –Bryan White, Managing Director, BlackRock   “Houseonomics offers great insights about how to think about homeownership. Its approach is innovative, but the analysis is grounded in common sense. A useful primer for what is the most important investment most people make in their lives.” –Paul Efron, Retired Partner and Advisory Director, Goldman Sachs & Co.   “This book is a common sense response to those who question the value of homeownership. The Smiths validate the argument that homeownership is normally a key component of lifelong wealth building. They present a practical guide to basic financial analysis for those planning on owning a home or who currently own a home.” –Doug Duncan, Chief Economist, Mortgage Bankers Association   “There is a lot of wisdom in Gary and Margaret Smith’s Houseonomics regarding the biggest investment that most people ever make. It is so well written that reading it is a joy and yet almost everyone can gain valuable knowledge in the process. The time you take to read this book will be a smart investment indeed. Having taught economics at Stanford for 35 years, I can only wish that more authors were as knowledgeable as the Smiths and wrote this well.” –John B. Shoven, Stanford University, co-author with Secretary George P. Shultz, Putting Our House in Order: A Guide to Social Security and Health Care Reform   “The “Home Dividend” is a powerful concept and, indeed, an engine for prosperity.” –Ed Yardeni, President, Yardeni Research   For generations, buying a home has been the best investment Americans could make. But, now, some so-called “experts” claim that it’s foolish to be a homeowner. They’re wrong. Houseonomics explains why a home is still an excellent investment for most people in most places…and helps you make smarter housing decisions wherever you are. This book isn’t for aspiring slumlords or flippers: It’s for anyone who wants to move toward financial security, with a roof over their heads, and a home to call their own. You won’t find “too good to be true” schemes here: You’ll find a sensible, intelligent,  and totally up-to-date explanation of the real economics of homeownership. Discover how to develop an achievable vision for financial prosperity via homeownership, and treat housing decisions as the investment decisions they really are. Then, learn how to negotiate more effectively when purchasing, selling, financing, refinancing, or remodeling; decide whether to prepay your mortgage…even intelligently evaluate rental/vacation properties. It’s never been more important to get clear-headed, sensible, objective advice on homeownership—and that’s exactly what Houseonomics delivers.   •Your home: an investment, not a speculation     Understanding and calculating your “home dividend” •Why now is still a good time to own a home     Even if home prices don’t increase in the coming years •Choosing the right house—and the right mortgage     Sensible advice that cuts through the lies, hype, and fear •Refinancing, home equity loans, and remodeling     The right ways to make the right decisions