Mike, the realtor in the story, said he would take listings only if the seller agreed to his suggested price. He didn’t want to waste time with an overpriced listing.
It’s only a matter of a few months before this happens in San Diego. The bust is further along in Florida.
I wonder how our friend sdrealtor is adapting to the 30% pay cut? I hope his other businesses are picking up the slack, because realty income is permanently down, for at least 10 years. We all need to adjust, and the sooner we do, the better off we are. In our household, income is dependent on how much the government spends on a certain sector. Within 1-2 years, this will trickle down and affect us adversely. At least we don’t have a mortgage, and cash in the bank. And I can go back to work if I need to.
But these little stories give us insight into larger trends. We need to heed them.
