Thursday, July 30, 2009

My Cul-de-Sac press release

This is the press release I sent out on Marketwire today. It went all over the world and was picked up on AOL, Reuters, Yahoo and a number of blogs. Good news travels fast, too.

Despite recent good news on housing prices and sales, something has got to give or the U.S. housing meltdown will worsen.

Millions owe more on their mortgage than what their home is worth. There may be more than 3 million foreclosures this year. What will it take to restore the American Dream?

In "The Cul-de-Sac Syndrome," the #1 book on suburbia on, author John Wasik takes a penetrating look at the housing crisis and is optimistic on how it can be resolved. As a result of his incisive research, Wasik can comment on which markets will recover and which won't and can tell you why he's optimistic about Boston, New York, Chicago, Philadelphia, Los Angeles, San Diego, Dallas-Fort Worth, Seattle, Denver and Portland, Oregon.

In his controversial book, Wasik skewers the American dream and questions whether the typical suburban home is sustainable. He asserts that home prices were unaffordable even before the boom -- a factor that grossly inflated the bubble.

"Despite what's being reported, several housing markets will recover, while others -- like Las Vegas, Phoenix, South Florida and Central California -- may take a generation to come back," Wasik says in this groundbreaking book.

"The government has been like a blind ostrich in stopping foreclosures," Wasik adds. "Without a clear bottom, nobody will want to buy. Going forward, we'll also need more affordable housing -- and that means green building and development. Even as prices have dropped, homes are still unaffordable in most highly-populated areas."

The book examines what caused the meltdown, how sprawl and tax breaks contributed to unaffordability and how some of the country's great thinkers would solve the crisis.

Here's What Initial Reviewers Had to Say:

"John Wasik's 'The Cul-de-Sac Syndrome' offers enough to chew on for three sets of teeth, enough to digest for three stomachs, and the alerts the mind faster than an approaching siren." --Ralph Nader, Consumer advocate

"'Cul-de-Sac' is an absolute must read for anyone who wants to know how the housing boom went awry, get a sneak peek at solutions for the future, and especially anyone considering buying their first home, or their tenth. It's one of those rare books that is so enjoyable to read that you won't be aware it's teaching you more about history, science, economics, and real estate than you would ever learn in a semester long college course or from hours of listening to overpriced talking heads on CNBC." -- DailyKos

"Get ready for a totally original look at the American dream. Wasik delivers the first truly multidisciplinary examination -- using planning, law, architecture, and history to focus on working solutions that can keep the dream alive. This is a winner!" -- Paul B. Farrell, JD, PhD. Columnist, and author of "The Millionaire Code"

"This excellent book takes a ground-level look at the causes of our housing crisis and offers a myriad of ideas on reinventing the concepts of home and community." -- Ilyce R. Glink, syndicated real estate columnist, author of "100 Questions Every First-Time Home Buyer Should Ask"

For more information on my book, see

Stay tuned for my next book, "The Audacity of Help: Obama's Economic Plan and the Remaking of America;" see

No comments: