Will the proposed Federal bailout Dodd and Schumer hurt us who have waited?

NEW -> Contingent Buyer Assistance Program
mino2126,

During the boom, many folks switched careers into real estate relating fields for higher income. These folks knew how to make a living doing more typical type of work. I hope I am clear.
 
I feel sorry for the people who left IT/Tech to go play in housing. I've heard of a few cases of IT people trying to get back in after 3-4 years.

IT is hard to get back into if you've been gone more than a year or so.
 
NIR.....if IT professionals left for higher paying jobs and now those jobs are either not paying as much or the market is contracting, then how do these people make up the difference in disposable income to keep their current living standards?
 
The smart ones will need to sell their porsches first. If you are in a market for a used 911, I'm sure the Irvine dealership has plenty of them in stock.
 
NIR.....it doesn't matter if they are smart or not. Consider this; if a techy went in as a RE agent and sold one home a month at an avg of 500K and received just a 2% commission that is $120K / yr he or she is making. Now if you want a more realistic number then please tell us on avg how many homes the avg OC RE agent sells a yr and what the avg commission is?

How many $120K / yr IT jobs do you think are out there?
 
Well, I'm sure the decent sales people will start migrating over to other sales positions. One of our subsidiaries is a commercial financing shop and several new loan officers/interviewees have been residential RE agents. Several officers that I have met at banks are making at least 100k if not more. Although I'll admit that the demand for commercial is very different (less) than residential.
 
so one day you're brokering residential deals. mkt drops so you close up shop, then get a job brokering a lease on the office you just moved out of? nice!

many would say that commercial real estate also a bubble waiting to burst. as far as here in oc, how much office space is currently being leased by RE-related companies? there's already a glut of empty office space and even more is going to hit the mkt soon.
 
Raymond, you got the right idea.

mino, go to www.salary.com to see the average pay for realtors and loan officers. Of all the agents out there, only 4-6% really can truly say they can make a living.

I must say being a realtor is the hardest thing I have ever done. I am very proud of myself.
 
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