Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (34850)	6/10/2003 9:24:20 AM
From: Ramsey Su	Read Replies (4) of 74559

Speaking of work, I wonder how much of the labor force are working as "temps" in real estate and mortgage related bubbles. Appraisers, loan reps, processors, escrow officers ..... We all know that the only way this volume of refinances could only continue if interest rates keep going down. Once rates stabilize or go up, all refinancing activities will stop. What is that going to do to unemployment? What type of jobs could these basically unskilled and over paid workers find? Real estate is supposed to have one of the highest multiplier effects. What is the reverse of "wealth effect"?

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