Real estate market????

[aragx6]

If anyone is interested in the state of the job market a really interesting article from AP: Huge job losses set off recession alarms

Essentially saying the economy has lost 232,000 jobs in the first three months of this year.

The article ends with this:

Advises economist Hoffman: “If you’ve got a job, hang on to it the best you can.”

[chet everett]

99% of the "real physics" jobs need PhDs, but you probably know that.

Retail is the worst paying sector, your finance friend ought to know that the best jobs for finance people are with organizations that in areas related to finance and regulation. Even local governments need people that can understand bonds and pensions -- she needs to look in different places.

Construction sector has never been a place that boasted of stable jobs or attracted many college grads. Most jobs site are heavy with immigrants, good way into the economy but not stable.

Anyhow new grads aren't supposed to be in the hunt for houses -- work like a dog, scrimp for rent, party like there's no tomorrow :LOL:

When you get tired of that go back to school and earn a degree that is in demand.


I'm not unaware that is more difficult to be looking for a job when the economy is tough, heck it is ALWAYS hard to get your first job.

I've changed careers several times and jobs many times. Sometimes with set backs. I've looked jealously to others that have better jobs and older folks that appeared to "have had so much easier".

I know very well the frustration that comes from under employment. There are ALWAYS ways to over come it. You have a job, was it just luck? I hardly think so.

Your friends should not despair. They can make their own fate. Honestly if I had access to the internet when I was starting out I could have been a thousand times more efficient in getting jobs, learning about where work is/was and going back to school.

The economy ebbs and flows. If you don't suck into too much of the tide you'll be fine!

Advises Hoffman : To stay alive keep breathing!

The AP needs to hire your journalism major friend to do some real reporting!

[aragx6]

She's not looking for retail jobs that deal with finance. She's looking to work at the mall because she can't find anything else. My point in sharing that was to show she's not too good for unskilled labor and that she highly desires to work and not live with her parents for the rest of the decade.
This is after months of applying for everything from finance to cold-call sales went no where.

Physics majors with bachelors always have long been in demand for entry-level lab work, operations and sales. All of which he has pursued, but to no avail. He'll be at grad school in the fall or spring anyway, but desired a chance to do something real for at least a while. He also has enough experience to get into entry level engineering positions, but that sector has entirely dried up. R&D is at a standstill in this country.

I mentioned construction because Humboldt did. I hardly know anyone who desires that kind of work, but at least when it was there it was a nice back-up. That's gone now.

[mia220]

If the remodeling is lower quality or adds space/features in a way that buyers feel are deceptive it destroys the trust that is need to commit to hundreds of thousands of debt.

This is so true. I have seen so many low quality remodeling jobs. Even if they are just small projects done poorly, I seriously want to run the other way!

[Humboldt1]

Aragx,

I took a job in construction to stay busy and ended up liking it. I could have taken a bunch of other low-paying jobs but construction opportunity opened up. Point is, I swallowed my pride a took a job because it was better than sitting at home complaining about not having a job.

I think this job economy so far isn't nearly as bad as 2001.

And I am sure you b/f is a smart guy, but life sciences, including physics and biology often require advanced degrees. I started in biomedical engineering and now work as a banker. I also have degrees in economics and marketing which is ultimately what got me my job, though working in construction got me the bank job initially as they said "I know you can work hard based upon your construction background." I also have a history degree, totally worthless in most professions unless you want to teach school, but still fun.

What is wrong with construction work? I love construction. I actually was going to get my masters in construction management when the bank called offering me the job. I may go back to construction, though more from a developer standpoint in the future. I love getting outside and doing work with my hands, work that can't be erased with a single wrong key stroke.

[oakparkdude]

FWIW, the job situation is Illinois seems to be better than the national average.

Medill Reports - Chicago

State unemployment stays at 5.5%; workers express concern about job market
by Liam Martin
Apr 17, 2008

The unemployment rate in Illinois was unchanged in March at 5.5 percent, contrasting with a national jump of 0.3 point, according to data released Thursday by the Bureau of Labor Statistics and the Illinois Department of Labor Security.

[cohdane]

Originally Posted by chet everett

You might be on to something -- if potential buyers are watching the "fantasy" thinking it is reality and sellers are living in REAL reality that leads to a mismatch in expectations.

We went on the market in January and closed in March. I was irritated that I HAD to stage my house, thought buyers should look at the bones and not the contents, cursed HGTV for those unrealistic expectations...

...but this is 2008, not 2005 and it had to be done.

I staged the crap out of it. Neighbors came over and hung drapes. Somebody lent me a kitchen table that fit better than our real one did. We stripped wallpaper and painted. Boxes and boxes of belongings were packed and stacked in the basement.

In 2005, buyers could love it or lump it. The real estate market was a fast moving train and if you weren't aboard, it left without you. In 2008, if you're house isn't "perfect" it won't sell. Why should it? There's another opportunity for buyers in the next block or the next week. And prices are only getting lower.

Suck it up and stage your house if you want to sell before the price drops even further. Rant and complain while you do it. Then laugh (or sigh with relief) all the way to the bank.

[chet everett]

Originally Posted by Humboldt1

Aragx,

I took a job in construction to stay busy and ended up liking it. I could have taken a bunch of other low-paying jobs but construction opportunity opened up. Point is, I swallowed my pride a took a job because it was better than sitting at home complaining about not having a job.

I think this job economy so far isn't nearly as bad as 2001.

And I am sure you b/f is a smart guy, but life sciences, including physics and biology often require advanced degrees. I started in biomedical engineering and now work as a banker. I also have degrees in economics and marketing which is ultimately what got me my job, though working in construction got me the bank job initially as they said "I know you can work hard based upon your construction background." I also have a history degree, totally worthless in most professions unless you want to teach school, but still fun.

What is wrong with construction work? I love construction. I actually was going to get my masters in construction management when the bank called offering me the job. I may go back to construction, though more from a developer standpoint in the future. I love getting outside and doing work with my hands, work that can't be erased with a single wrong key stroke.

My experiences are very similar. When the job market is tight it may seem like a tough time to bite the bullet and spend even more time/money on school. Even night school/community college can be a huge drain. If you do make yourself more valuable you will get a better job SOONER and down the road you'll be EVEN more in demand. Right now there lots of jobs in the broad healthcare field, many require certifications/specialized training. If you get it now you won't ever regret it.

In a way this not that different than the poster than staged their property and sold in 3 months -- they did what they needed to make the property more saleable in time frame available to them.

This is NOT the same as slashing the price of the place to "just sell it" -- that will have negative impact on the broader market. In a way slashing prices is like taking a job just to say "At least I'm working" -- long term those jobs don't add value.

The moral of the story: if there are things that are in your control to maximize your long term value it makes sense to do 'em. If that means a little out of pocket to stage a house DO IT. If that means a little bit more sacrifice to get the kinds of skills that employers want that is also the right path for long term success.

People should not worry too much about "time on the market" for houses on the whole or some average "length of time looking for work" -- much more important is what you individually do to hasten the sale of YOUR home and what you do to present yourself as the most employable candidate.

Very similar, and both help the overall economy.

Many people are predicting a longer, slower recovery than in past downturns. People ought to adapt to this and make themselves and their finances match this possibilty.