The Media Hype

Real Estate Agent with Jordan Baris Inc Realtors

The economic hardship facing our country today is no different from the dot com era and the Contraction and Expansion of our Economy is historically necessary for growth This necessary growth process is directly impacting the real estate industry. However Industry changes of this magnitude historically brought about  a better market place. It is a necessary evil and rallying around this market is very exciting, It brings about true home ownership and builds careers by providing knowledge and experience for those of us who has yet to see the kind of market we are in today. I am truly enjoying this market place and soaking up the knowledge it imparts like a sponge. The experience one provides for both buyers and sellers just became more meaningful.

Comments (3)

Bill Austin
East Valley Living - Scottsdale, AZ

I lived through the Resolution Trust Corporation fiasco as a Real Estate Broker in Southern California.

Even those of us who knew this was coming did not get out completely unscathed.

The cycle needs to run its course.

May 26, 2008 04:30 PM
Jesse Barron, REALTOR® - Real Estate Made Easy™ in Anne Arundel County, MD
Keats & Co. Real Estate, LLC - Annapolis, MD

The media is on board because it pulls at the heartstings, which increases eyeballs and sells more ads.

Many people do not realize (or take advantage of) the fact that it is easier to get ahead during downturns.  The dot com era may have created more millionaires (I don't know, but it seems possible), but if it did not, then the record stands at the great depression minting more millionaires than at any other time during history.

Ironically, my career took off because of the number of foreclosures.  When everyone else was living high on the hog with home equity, I was struggling to make ends meet and pay rent in a country where it seemed like everyone was a homeowner.

Downturns result in the reshifting of wealth.

In 2005 I felt left out because I was not a homeowner.  Now, I am proud to call myself a renter.  Although I suspected a bubble, I would be lying if I said I wouldn't have bought if I had the resources in 2005.  I am a firm believer in "everything happens for a reason" in my life and now I feel blessed for not buying during the bubble.  I know that if I would have bought in 2005, I would have bought in one of the areas that will have the largest corrections.

May 26, 2008 04:51 PM
Blossom Vernon
Jordan Baris Inc Realtors - Bloomfield, NJ

I am in  a business with experienced brokers and industry pioneers and we seem to be in agreement  that this business has a cycle and can really prosper in the down times that we are currently facing.

Jun 02, 2008 12:28 AM