After hearing months of market speculation from "experts" about the current condition of the real estate market it got me thinking, is real estate one of the few recession-proof businesses? I guess it all depends on who you ask. When the market starts to trend downwards an/or crash there seems to be less demand for physical presence in the workplace causing companies to cut back on hours and workers. I was having a discussion with my sister who is a BSN in Colorado and I stated to her that she simply does not have to worry about the market downturn, as I'm sure there will not be a shortage of sick people to tend to. The health field for the most part is recession-proof. Not all aspects, but a majority. I am sure you could short staff an EMT crew, but lay-off some doctors and nurses because "times are tough"? Most hospitals are already short staffed.
This then led to my profession. And while there does seem to be a fall off of part-time/average agents in a recession/down economy, home buying does not stop. People need to move for work, they need to sell because they lost their job, someone died and they inherited a house, etc. There are many reasons people have to sell and just because the market has started to slow down does not mean people's lives do. I believe that if real estate is done right, you can make a solid career out of it. However, the false perception of a market that continues to trend upward and almost never has a ceiling makes a lot of people hungry for a piece of the pie so to speak. This creates a lot of agents who are playing for the short term and not developing their skills needed to survive and thrive during a down market. Longevity is the name of the game in real estate and if you are not preparing for the long game, see ya later! Just my thoughts on the situation, let me know what you think.
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