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02-11-2009, 11:28 AM
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Real Estate Agent
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Join Date: Oct 2006
Location: Cheshire, Conn.
1,763 posts, read 1,670,653 times
Reputation: 320
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REALTORS® and Mortgage Brokers casualties in housing bust
I saw this on MSN Money and thought I'd pass it on.
Thousands losing jobs in housing crisis - MSN Money
It does have a Connecticut connection.
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02-11-2009, 11:42 AM
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Senior Member
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Join Date: Mar 2007
Location: CT
293 posts, read 163,068 times
Reputation: 98
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My neighbor was a mortgage broker, she quit her job 3 years ago thinking they had enough money. Her husband got sick, wasnt working, meds cost a fortune and now she works 3 part time jobs just to keep their heads above water... It's scary out there.
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02-11-2009, 11:43 AM
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Moderator
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Join Date: Apr 2007
Location: Connecticut
5,247 posts, read 4,575,180 times
Reputation: 770
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Interesting article. It is funny that they talk about empty office buildings from the mortgage fall-out. We have a big one right here in Connecticut. Mortgage Lenders Network, one of the largest non-conforming mortgage brokers in the country, was in the process of building a 300,000 square foot headquarters in Wallingford when it went under. The building was partially completed and is now being marketed to multiple tenants. Unfortunately in this economy not much leasing is going on so I think it is still empty. Too bad since it is a pretty nice looking building. Jay
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02-11-2009, 06:56 PM
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Senior Member
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Join Date: Jan 2007
154 posts, read 174,753 times
Reputation: 50
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To me the realtor / broken market was over saturated anyways. At it's peak it seemed like everyone and their mother had a real estate license when the times were good. Now the market is weeding out the part timers or those who weren't as experienced.
As we've been looking over the last 6 months I've noticed that the well priced and "ideal" homes (3+BR, 2.5+BA, 2Car Gar, good location, etc) are selling very fast while those lacking anything (curb appeal, no garage, 2BR, 1BA, etc) are sitting on the market.
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02-11-2009, 08:45 PM
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Realtor
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Join Date: Sep 2006
Location: Danbury CT
1,045 posts, read 1,037,313 times
Reputation: 360
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I've seen some agents, mortgage brokers & even some contractors homes get foreclosed on up here in the Danbury area.
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