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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ggamer who wrote (47552)	12/16/2005 9:47:46 PM
From: Ramsey Su	Read Replies (1) \| Respond to of 110194

In the midwest, unemployment is leading real estate down. That will probably continue as the auto and other manufacturers show no sign of strength. In areas like California, real estate provided not only substantiate employment, but very high paying employment with very little skill required. Six figures income is a dime a dozen. How easy is it to make six figures in the business in a hot area like San Diego? One sale a month would easily break $100k income for the real estate agent. All fee appraisals who put in 40 hour weeks would break $100k. All journey level escrow officers. 4 loans a month would break $100k for a commissioned loan broker. This level of income simply cannot be sustained under less favorable conditions. So you are going to see not necessarily unemployment but drastically lower paying employment in this sector. We will soon see if that is a problem or not.