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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: sea_biscuit who wrote (326)8/26/2001 5:34:58 PM
From: MoskoRead Replies (3) of 306849
 
Hello all,

I've been reading the posts here with great interest. I have a couple comments to add. I am self-employed and live in the Seattle area. I have lot's of friends who are, or have been, contract workers at hi-tech firms (think Microsoft). When contractors end their jobs they are like me or any other business owner out there looking for customers. I don't know a single self-employed contractor who has obtained their own unemployment insurance. The last statistic I read was that their are currently around 10.3 million contract laborers in the U.S. Very few of these people will end up in the unemployment statistics.

Another trend I have noticed among my self-employed compatriots is a veritable rush to buy property. Everybody wants to be loan qualified using their tax returns for the last 3 years when times were good to purchase the highest priced home possible. I would say I am in the same boat, only I'm willing to wait a year or 2 until things calm down.

My two cents,

Mosko
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