This one speaks for itself. Welcome to the mean, about 600,000 of you... You're no longer needed. I'd also suggest another 400,000 (1 Million total) are about to go bye-bye thanks to our new friend, disintermediation.
That's a lot of Lexus payments folks. That's a lot of house payments. Rampant job losses tied to the REIC will only accelerate the housing downfall
Thanks David for the chart
September 22, 2006
Reversion to the mean: Add about 600,000 realtors to the unemployed line
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22 comments:
We lose 30% of our local real estate agents every year. 3000 agents total of which 300 make a living. 1000 never sell their first house. It's the same in boom years and bust years. Most get into the business for the easy money, only to find there is no easy money!
Dave Liniger, owner of Remax, stated the age of agents is going to be a problem. The average remax agent is in their mid-50's and will be retiring soon. He expected a 50% drop in agents in the next 5 years.
I know a realtor who just bought a huge house 6000sf by the beach. 2 new cars and all the crap in the new house. And guess what things have really slowed down, not a crash but not enough to support her pipe dream. Her and her friends keep bragging about this house and I keeped saying under my breath she's way way over extended.
Quick, quick borkafatty tell us all about it. Your insight makes it possible to understand. I'm helpless unless you post every 5 minutes
The married duel income agents are going to get hammered.
Better add tens of thousands of "Mortgage Brokers" (translation: former copy-machine salesmen) to the over number of the soon-to-be-unemployed.
And a few thousand workers at Home Depot.
And Loews.
And furniture manufacturers.
And, and, and...the list goes on and on!!!
Quick, quick borkafatty tell us all about it. Your insight makes it possible to understand. I'm helpless unless you post every 5 minutes
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Dont be a jealous fool cause your brainless and sometimes I actually have an answer for someone. I speak the truth and for some of you I know you hate to hear it, dont like it tuff shit.
In the past three years amny investors got licensed in order to broker their own transactions as another way to save/make money.
They will no doubt move on.
But, since agents are independent contractors, you won't see them "unemployed".
you won't see them "unemployed".
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We will recognize them. They will be the dumba$$es living in their Lexus.
My buddy Realtor R went back driving Limo...
They should outsorce them to Mexico :-)
Many of the female realtors already have training for their next career.
But, since agents are independent contractors, you won't see them "unemployed".
This is a good point; they will not show up in the government numbers as they will not get unemployment compensation.
devestment said:
"My expenses are now getting difficult to make so I am now exploring other fields."
It appears that you're also in the construction industry, specialized in home accessories.
My honest suggestion is try exploring Green Building. Visit the usgbc.com for more information.
Briefly, Green Building methodology will be the wave of the future in construction industry. The concept is based on energy efficiency and environmentally friendly products. Right now, there are lots of manufacturers (i.e. home accessories & others) that are qualifying for Green Building certification. USGBC can assist you and perhaps give you some leads.
Given that, I say - stay in construction, but be creative, embrace change and move on.
Anonymous said...
Better add tens of thousands of "Mortgage Brokers" (translation: former copy-machine salesmen) to the over number of the soon-to-be-unemployed.
GOOD POINT!
Some of them are adapting; I just saw a Realtor sign stuck on the door of a Toyota Corolla...
larry said: "In the past three years amny investors got licensed in order to broker their own transactions as another way to save/make money."
Um, I somehow doubt that the large majority of the right-hand side of that graph are people who went through the RE courses just to save money. Sure, there's some, but not many.
We saw the same thing in the internet "boom" - former waiters and cab drivers who picked up HTML and Java books and became "internet programmers". Something tells me those folks went right back to waiting tables and driving cabs.
Take a look at the drop in the early 80s on the left side of the chart, relative to the size of the run-up that preceded it.
Now take a look at the size of the run-up on the right side of the chart.
YIKES.
'But, since agents are independent contractors, you won't see them "unemployed".
This is a good point; they will not show up in the government numbers as they will not get unemployment compensation.'
True. But they will be there to compete for the soon-to-be-shrinking number of available jobs.
Tent living is a good idea esp if there's a YMCA nearby for the showers.
Yeah, you'll meet a lot of the named posters from HP at those YMCA showers. Richard loves to lather up while paintblot looks for that bar of soap on the floor.
Is someone who is self employed like a realtor eligable for unemployment insurance?
I got a close friend that is tired of paying a lot off $$$$ for a crappy apartment and wants to live inside a tent year round.
Indeed, but many prefer the urban ambience of a cardboard box which opens out onto an open air dining room( next to the dumpster in the alley behind Denny's). Others choose to "see America" from the inside of a big yellow RV as it makes it's regular daily stops along the streets of our cities. I have an image of a former RE sales associate sleeping in a shopping cart with his picture on it, that's great proof of ownership when the police are rousting him at 3:30 AM.
"disintermediation"
huh? our new friend of bank withdrawals for stocks?
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