Prospecting in Bad News: Finding Stocks in a Real Estate Crash
Book: Beating the Street by Peter Lynch with John Rothchild | ISBN: 978-0-671-75915-5
By late 1991, everyone was convinced that real estate was collapsing. For-sale signs were popping up like weeds. Fat-cat homeowners in places like Marblehead, Massachusetts, were complaining that their houses were worth 30 to 40 percent less than a couple years ago. Newspapers ran collapse stories almost daily.