I'll have another piece of pumpkin pie....oh by the way.....

There's a lot of false rhetoric out there by the overly
optimistic who base their optimism on personal desperation rather than
reality.    It's true that some areas of the country are doing much
better than other areas, but on an over-all national basis the Real
Estate market is still in a deep slump.    Looks to this scribe that it
will remain that way for some time yet to come.

The ones to listen to about the economy are the professionals
who make their living studying the Real Estate market and who can back
up their predictions with facts and figures.   

Moody's Investor Services says "house prices will continue to
fall before stabalizing in early 2012.   The national recovery is still
very fragile.   Analysts see, "increasing pressure for a double-dip
recession, which could cause a further 20% decline in home prices." 
(See http://www.dsnews.com/articles/double-dip-recession-threatens-to-cut-another-20-off-home-prices-moodys-2010-08-09)

All across America Realtors are taking second jobs waiting on
tables, selling cars or finding any work possible to put food on the
table.    Volumes are leaving the Real Estate profession entirely, which
is good news for those who have chosen to stick it out.    On the
other hand commissions have declined, while home prices have fallen. 
That news is not so good.

On a personal level we've noticed a huge decline in PromoPlates
sales to Realtors over the past couple of years.   Our PromoPlates are
less than $40 ea., but sadly many Realtors don't have an extra 40 bucks
right now to invest in them.   Sales are going to industries and
countries less affected by the downturn.

The National Association of Realtors says "the greater obstacles
to housing market recovery are job creation and availability of
credit."

My friends.....let's by all means keep our optimism high, but
please don't be fooled into believing recovery is just around the
corner.   This is a long term battle that affects all of us.   Before
2011 is out thousands more agents will be leaving the industry. 

In my humble opinion it may ell be 2014 before we see a return to true Real Estate market
stability.  The rise in home prices and sales will be a long slow ride.

If you're one of the few who are doing well......give meaningful "thanks" tomorrow.    Many of your fellow Realtors may be eating their shoes for Thanksgiving dinner.   (No disrespect intended.)