* * * * WARNING.. . . HARD CORE REAL ESTATE TALK * * * *
Unemployment Experiencing A "Structural" Increase by John Mulkey points ActiveRain members and readers to an article by Dennis Lockhart, President and CEO of the Atlanta Fed.
Mr. Lockhart tries, in vain IMO, to put "a happy face" on the U.S. economy forecast for the near future while providing a veiled warning that we must expect . . . . . WHAT????
- 1. lowered expectations for economic output.
- 2. lowered expectations for economic recovery.
- 3. acceptance of permanent lower employment (another way of saying higher unemployment).
Mr. Lockhart's prognostications, while not comfortable to read, are, IMO, ALMOST SPOT-ON. I say "almost" because I believe the economic outlook is more dreary than he, in his highly visible post is willing to commit to print.
SO, I'll provide some"HARD CORE REAL ESTATE TALK". However, since I've learned that most ActiveRain members don't like to have their rain on their parade, I'll make it short. Just some thinking points.
HARD CORE REAL ESTATE FACTS:
ARE YOU READY FOR SYSTEMIC CHANGES IN THE REAL ESTATE MARKET???
1. The real estate market is "STRUCTURALLY" different than it was 8 years ago. Our buyer and seller 
pool has been reduced by the MILLIONS of prospective buyers and sellers taken OUT OF THE REAL ESTATE MARKET by foreclosure or SHORT SALE.
2. There are approximately 14,000,000 home owners who owe more for the mortgage on their home than market value taking them out of the real estate market.
3. The millions of home owners who have lost their home to foreclosure will have damaged credit for many years, taking them out of the real estate market.
4. The millions of home owners who have lost their home to Short Sales have damaged credit for many years, taking them out of the real estate market.
5. There are millions more homes going to foreclosure and Short Sale, taking millions more prospective home buyers and sellers out of the real estate market for years.
6. The U.S. economy has experienced a STRUCTURAL change.
7. The real estate market has experienced a STRUCTURAL change.
HOW TO SUCCEED IN REAL ESTATE WITHOUT REALLY TRYING!
Can't be done.
HOW TO SURVIVE IN REAL ESTATE FOR THE COMING NEW MARKET REALITIES.
Get up in the morning and go to your real estate office, even if it's only 12 feet away. Understanding the tough realities of THE NEW REAL ESTATE MARKET, will help you develop a . . . . .PLAN FOR REAL ESTATE AGENT SURVIVAL!!
You're going to need it, whether or not you realize it today.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
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