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Other People's Money

448 pages, 2014

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Description
The real estate giant Tishman Speyer and its partner, BlackRock, thought they had it all figured out. They would build luxury condos using borrowed money, turning a profit as the building appreciated in value. But Other People’s Money is the inside story of how Tishman Speyer and BlackRock lost billions of dollars when their much-vaunted purchase of Stuyvesant Town-Peter Cooper Village in New York City failed to deliver the expected profits. The former New York Times reporter who covered this story in detail offers a riveting account of politics, high finance, and the hubris that ultimately led to the nationwide real estate meltdown.
The Power of Real Estate

Charles V. Bagli's book, Other People's Money, gives us a deep look into the world of real estate. It shows us how real estate can be a powerful tool for wealth creation, but also how it can lead to financial ruin if not managed properly.

The Role of Politics in Real Estate

The book explores the intricate relationship between politics and real estate. It shows how political decisions can have a significant impact on the real estate market, and how real estate moguls can influence politics.

The Risks of Over-Leveraging

Other People's Money provides a cautionary tale about the dangers of over-leveraging in real estate. It shows how using too much borrowed money can lead to financial disaster, a lesson that's crucial for anyone looking to invest in real estate.

The Impact of Real Estate on the Economy

Bagli's book also digs into the broader economic implications of the real estate market. It shows how fluctuations in the real estate market can have far-reaching effects on the overall economy.

The Human Side of Real Estate

Finally, Other People's Money doesn't just look at the financial and political aspects of real estate. It also explores the human side, showing how real estate decisions can impact communities and individuals in profound ways.

Recommendations

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Vinod Khosla, entrepreneur and investor and technology and venture capitalist, Recommending BestBooks

Vinod Khosla

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