It’s been a tough go the last few years in the real estate sector, and some of the hardest hit areas are not expecting to recover for several more years. There is just too much inventory, and the real estate loans are too hard to get for a good many buyers. In addition to this many of these same hard-hit areas are having a tough time with unemployment. Nevertheless, historically the real estate sector has been a big employer from construction to real estate agents – and from mortgage brokers to home improvements.
The other day, I was reading an article in the Real Estate Section of the Wall Street Journal which somewhat addressed my point. Perhaps, you might like to find this article online, read it, and then come back to discuss it with me here in this article of mine. The name of the WSJ article was “Tough Time to Enter the Real-Estate Profession – Graduates of Property Courses are Confronting Fewer U.S. Jobs and Lower Salaries; Thus, Weighing Opportunities in Qatar” by Maura Webber Sadovi. In the first paragraph it states:
“This spring more than 1500 students will be completing graduate level real estate programs that have sprouted in some 70 U.S. Universities and colleges throughout the country. The job outlook isn’t promising.”
Yes, an understatement indeed. So, one has to ask where will these graduates go work? Should they go attain their real estate licenses, commercial brokerage certificates, or attempt to pad their resumes to work in the future rebound of the commercial building sector? Tough call and tough choices, and the article suggests that perhaps overseas might be their best bet, but are things really that bad?
The other day, I was on the Active Rain Online Blogging Network for Real Estate Professionals, and there are many who are indeed in good spirit, but really no one that I can tell is breaking any speed records. All the agents and folks that joined in the fun at the top of the bubble are gone, only the diehards are left, and as things return they will be the survivors and victorious in the rebound. Is this the right time to become an agent?
Perhaps not, but mind you the real estate sector is not dead completely, and there are some signs of life in the commercial arena, and some in the residential arena too, although that is limited to only certain markets. Indeed, I hope you will please consider all this.