I would like to dedicate The Sumichrast Report, and its name to my late father, Dr. Michael Sumichrast. The inspiration behind this blog started before the age of the internet, a print newsletter. Sumichrast Publications was originally launched as a real estate newsletter in conjunction with the American Bankers Association (ABA). The ABA tried to edit my father’s articles…bad idea. My father replaced the ABA with Arthur Andersen’s Real Estate Service Group, a multi-million dollar real estate advisory and tax group that was a unit of the auditing conglomerate Arthur Andersen. Real Estate Perspectives was launched and lasted for 5 years.
In 1988, one of my father’s good friends, Mike Wood (who is currently the US Ambassador to Sweden,) was running Hanley Wood, Inc., (the hugely successful magazine publishing company that started with Builder Magazine and now has over a dozen publications,) started a joint venture housing newsletter called The Sumichrast Report. Of all the newsletters we published in our 5 years, The Sumichrast Report was his favorite. It was Mike Sumichrast at his best. Straight shooting, hard opinion on housing and the economy from a man who had pioneered housing market analysis as Chief Economist of the National Association of Home Builders from 1962 until 1987. Even the font was in the old typewriter style. It was a great success and the readers loved it although it never really made a lot of money. But that was alright for my father…he just enjoyed the hell out of it.
Taking the essence of what the first Sumichrast Report was, I am going to aspire to emulate its passion, tough talk and straight shooting. I will cover those topics that I know the most: real estate, finance, and entrepreneurship. I will draw from my experiences during the past 25 years. I will ask friends and colleagues to pitch in to make this site truly helpful (and entertaining) for readers who have questions relating to such topics as: buying or selling a house, financing your business or starting a new company.
When I was a kid, I used to watch my father bang away at his typewriter. Mike Sumichrast was not only a syndicated real estate columnist in over 50 national newspapers every week, but also was a successful author of over a dozen books. His most famous books include; Housing Markets, The New Complete Book of Home Buying, and Opportunities in Financial Careers. The latter two I helped write with him (and in the case if the New Complete Book of Home Buying, with his long-time writing partner, Ron Shafer).
This is my homage to my late father and his passion.
More photo history can be found on my Facebook page.
Thanks for reading.