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Old 03-27-2009, 11:14 PM
718 posts, read 2,326,560 times
Reputation: 364


Let me educate you on the reality of real estate jobs. This is not negative, nor am I discouraging you. I am simply giving you facts.

Every 20-something in the last 5 years tosses around the phrase "I want to go into real estate". News flash: they do not know what they are talking about. They base their assumptions on the unrealistic gains of the recent past. One guy cashed in his gains on some condo in Santa Fe bought sight unseen, and told the whole world. Now the herd is hooked.

But the truth is the boom was a one time event. It was speculative Mod cut: nonsense that was not fundamentally sound. Nothing towns being built in Arizona that were just homes and schools with no economy outside of building more homes. Right now credit is tight and our debt is high. We have a surplus of homes that are being foreclosed on. The international demand to play monopoly with U.S. real estate will not happen again. American real estate may not see the sharp increase ever again simply because irresponsible buying via subprime and pure speculation with no money down will not be allowed.

There will always be real estate jobs as houses need to be sold. However, I think with thousands of finance jobs permanently lost, some of the talent from there will move over to in NY real estate. NY has a quality housing market, but the competition will be stiff when it comes to selling. You are competing against the best competition: ex-banking sharks and native NY hustlers.

When looking at a career you have to look at supply and demand. Right now there are too many people in or trying to get in on a future boom that will not happen in real estate, so there is a surplus. It is probably more beneficial to get in a career such as electrician or plumber since a majority of these guys are baby boomers and when they retire, the number of workers in the younger generations is far less. Less workers available means the workers in the field command higher premiums.

Last edited by Viralmd; 03-28-2009 at 04:57 AM.. Reason: Language
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