More students sold on studying real estate
Like the market itself, real-estate education is hot. But some experts warn this industry is headed for a decline.
By Lisa Leigh Connors | Staff writer of The Christian Science Monitor
Real-estate education is red hot, thanks to a booming real-estate market nationwide. As a result, colleges everywhere are adding new programs and building on existing ones to keep up with industry and student demand.
Some experts warn, however, that the market may have hit its peak - and the field could be headed for a decline.
"If you went back to the late 1990s, you probably saw very similar situations with classes in the securities industry for stockbrokers or Internet-related enterprises," says Peter Schiff, president of Euro Pacific Capital, an investment firm based in Newport Beach, Calif.
"The real-estate industry is going to be one of the worst industries to be associated with in the next 10 to 20 years. We are in a major bubble."
Instead, Mr. Schiff says, students should turn their attention to agriculture, horticulture, engineering, and foreign languages, such as Mandarin.
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