Posted on February 18, 2009 - by admin
Anyone with any stockbroker experience? After 5 yrs of real estate & mortgages, I must choose something else?
I believe the real estate market will drop another 25-35% until 2010, stabilizing at 2000 prices; so cannot sell homes “in good conscience” knowing this. Not to mention there are 24K listings here, with only about 4K/yr sales.
Of homes with loans, FL has 16% of them in foreclosure, & another 6% are 90 days late. We have 55% of the remaining ARMS set to reset within 12 months, so more “fallout” is expected, to drive down prices even more, AND YOU WILL NOT SEE THIS IN THE MEDIA. (which is supported by lots of realtor ads, etc.) (www.federalreserve.gov)
I have always wanted to be a stockbroker. But with the falling dollar, I don’t know if any paper assets based upon the US dollar will hold their value in light of all recent events. Does anyone know of any brokerage firms who are actually making money for their clients in this BEAR market? They’d have to have access to foreign exchanges, & metals. I WOULD EVEN STRUCTURE MY A/Cs TO ONLY MAKE $ IF MY CLIENTs MAKE $.(anyone doing it?)
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February 20, 2009
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invest in gold,, its the only thing rising.. sorry, but thats all i got
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February 21, 2009
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The Market in Utah is good for real estate. Properties values are still rising. The problem we are experiencing here is not in the market, but with the lenders. They are qualifying less and less people to buy these homes and not a lot is selling. You should see the incentives new home builders are offering. It’s amazing! I realized a 20 percent gain on my Utah home in a year and a half. But, since nothing is selling and lenders are more picky even for refinancing, my business as an Escrow Officer, on commission only has dropped significantly and I can no longer sustain myself and will also be looking for a job. Sounds like almost the right time to buy in FL though! Good luck to you!