Down and out in Michigan. (Madison Heights: loans, real estate, budget)

[TurboState]

I am really down lately. I do like Michigan, and most of our family are located here. I don't care much for my family, but my wifes family are fantastic, I like living near them!

The job situation is killing me! My wife is employed at a great job, I hope that holds out. But I have been unemployed for almost 2 years. I am a marketing executive by trade, but also with extensive sales/retail experience.

I put out hundreds of resumes a year and seldom get a call back. The only 2 jobs I have even had offered were low end positions. One company wanted to pay me $5.00 an hour + commission. Another (Target) offered me $7.00 an hour, no benefits, but they were entirely inflexible on scheduling and wouldn't even try working around my wifes schedule.

I have to say, the job market is extremely grim. I have never seen it this bad in all of my life. My last resort is I am considering a Real Estate License. I hear agents are bailing on the state fast and there is actually a lack of good aggressive agents with sales backgrounds.

But I don't keep my hopes up. Almost everyone I know is either unemployed, or in risk of becoming unemployed pretty rapidly.

[Angel Bear]

Keep the faith and stay positive. I know it's hard, but things always have a way of turning around. Try not to buy into the mass idea of things going down the tube. What about the life you want to create?

Watch the movie "The Secret"...You'll turn around your mindset. I know it's really helped my friends and family

A hug for you...

[tasdad4701]

Hello, I have lived in Michigan for 33 years. I would suggest Home improvement sales. People are fixing up there homes to make them more
energy effeciant. Windows, doors, roofs, siding, etc., when the economy is
bad people are trying to find ways to save money or build equity for loans.
I made a ton of money in this field, but in my case my wife has BA in education and we are moving to Florida so she can start making money now.
Good Luck

[RedWingsFan]

Move! there are 49 other states to choose from and many with good economies. Life is to short to sit around in a place where you can't make a decent living. Do some research, pick a new state that has a good economy and is close enough for family businesses. Living around family doesn't pay the bills.

[Nehor]

If your wife's income is paying the bills, why not stick it out and try to change fields? In the two years you haven't been working, you could have been self educating yourself in other fields. Also, sending out resume's is not an effective self marketing tool anymore. Post your resume online and/or apply for a job online through monster or yahoo. Most online job openings are posted by head hunters and even though you may have applied for a specific job, the head hunter may have a lead on another job that you may be qualified for. Even working at Target can help your self esteem. If you're talented, you could be promoted... I've chased the greener pastures and my advice is if you are happy with most of what you have, then work to make it better. Don't expect that moving will provide what you are lacking automatically. You have to be in it for the long haul. Best wishes and good luck.

[TurboState]

Originally Posted by Nehor

If your wife's income is paying the bills, why not stick it out and try to change fields? In the two years you haven't been working, you could have been self educating yourself in other fields. Also, sending out resume's is not an effective self marketing tool anymore. Post your resume online and/or apply for a job online through monster or yahoo. Most online job openings are posted by head hunters and even though you may have applied for a specific job, the head hunter may have a lead on another job that you may be qualified for. Even working at Target can help your self esteem. If you're talented, you could be promoted... I've chased the greener pastures and my advice is if you are happy with most of what you have, then work to make it better. Don't expect that moving will provide what you are lacking automatically. You have to be in it for the long haul. Best wishes and good luck.

Understand when I say "Sending out resumes" I am also factoring Monster/Career Builder type sides. The fact is, they are pretty ineffective imo. As for Target, did you miss the point where they were abusive and inflexible? The sad fact is, in a poor economy employers can and do overdemand and under deliver to their workforce. They know they can abuse people, and they do. If the market was tight for good workers, they'd have to be more conforming. It isn't so they aren't.

As for retraining, retrain to what? In Michigan, the only viable career path is heathcare, and even those areas are starting to see a decline. Also, keep in mind, we're down to one income and thus, it would put strain on the budget to re-educate myself. Slippery slope and all that!

I have a great house, the wife makes good money and we are close to family, so moving isn't the best idea. Not to mention I predict other states might soon follow with troubled times so nothing is a sure bet!

[sherrys]

Originally Posted by tasdad4701

Hello, I have lived in Michigan for 33 years. I would suggest Home improvement sales. People are fixing up there homes to make them more
energy effeciant. Windows, doors, roofs, siding, etc., when the economy is
bad people are trying to find ways to save money or build equity for loans.
I made a ton of money in this field, but in my case my wife has BA in education and we are moving to Florida so she can start making money now.
Good Luck

Flipping houses doesn't work in this market. I am a licensed realtor in the state of michigan. It's been tough on everyone. I think we have finally hit rock bottom. Things are going to be turning around. I hope. I am optimistic. I just closed on house on Jan.3rd. The Seller bought it in 02 for $151,000 in mad. hts. it sold for $135,000. The seller took out of the $135,000, $8100 in consessions and had to pay the 6% commission on top of that. She brought about $30,000 to closing.

[TurboState]

I think 2007 will be even worse.

Maybe I should wait for a great time, then start buying up a couple of rental properties dirt cheap from people giving them away? Madison Heights real estate market is *DEAD*, I agree, that is where I might start looking.

I cannot believe anyone would pay 6% commission these days to sell a house. The most I would ever pay would be 3%, or I would do it myself. Few agents I have met actually work the sale and earn the commission. (you might be differnet)

Also, why do people take such losses? $8100 in concessions? I wouldn't be caught dead doing that.

[malamute]

Originally Posted by TurboState

I am really down lately. I do like Michigan, and most of our family are located here. I don't care much for my family, but my wifes family are fantastic, I like living near them!

Maybe you could get a job that would allow you to travel or telecommute. Some jobs let you live anywhere but just be close enough to an airport to get somewhere else.