Home › Forums › Financial Markets/Economics › Real Estate Agents ARE GOING BROKE?!
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phaster.
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July 26, 2024 at 10:10 AM #903294July 27, 2024 at 11:00 AM #903295
barnaby33
ParticipantAgents go broke every bust.
I for one would love to see an infographic or a walk through of how retiring boomers are either raising rates or keeping them high. I’ve heard the theory and it sounds good, but the mechanics of such things really matter.
Josh
July 27, 2024 at 7:18 PM #903296sdrealtor
ParticipantNot all of them ☺️
The failure rate has always been well above 80% within the first few years.
but I think many experience agents will also. I’ve been talking about this for a while. The volume of sales dried up a few years ago. A lot of agents are just barely hanging on hoping it will come back, but it’s not going to anytime soon. The NAR Settlement will be the nail in the coffin for many. I am bombarded with constant information of how to deal with it, but it is constantly changing, It barely makes sense and it really doesn’t address what is going on. There is a ton of denial going on out there. I have some agent Friends, I’ve been trying to smack into reality and they just can’t see that everything is about to Change. The way agents interact with each other, and the cooperation that has existed for decades is about to disappear. It will be a race to the bottom, and I can’t say who the winners will be. Certainly not the agents and I don’t think the consumer will be either. An entire industry, and And business model has been ruled illegal with no replacement. It’s going to be interesting to watch and I’m happy to have spent 25 years, putting myself in position not to be dependent upon any of this
July 31, 2024 at 9:36 PM #903297Rich Toscano
KeymasterI for one would love to see an infographic or a walk through of how retiring boomers are either raising rates or keeping them high. I’ve heard the theory and it sounds good, but the mechanics of such things really matter.
The main idea I’ve heard is:
- working people create supply and demand
- retired people create only demand
…therefore an increase in the ratio of retired:working people will increase demand:supply which puts upward pressure on inflation and rates.
My view fwiw is that while it sounds compelling on the surface, in reality there are too many moving parts for this kind of analysis to be useful. But that’s the theory as far as I know.
Edit – forgot the infographic:
August 4, 2024 at 8:03 PM #903303phaster
Participantmain idea(s)
• working people create supply and demand
• retired people create only demandthe “main idea” should also include the fact that the boomer generation has in general saved up a ‘yuge’ nest egg (According to the Federal Reserve data total net worth for boomers is $78.55 trillion)
just saying the boomer generation can’t take it with when they eventually kick the bucket, so they are opening down their nest egg,…
I’ve never taken a formal economics class BUT something the public at large needs to consider is baby boomers hold 51% of all wealth in the United States. [Source: Federal Reserve]
given the facts it should not take a rocket science degree to grasp the simple idea that the ‘yuge’ segment of wealthy of the boomer population, is the root cause of inflation
the inconvenient truth is American boomer because of their cumulative wealth and post WWII consumer mindset,… are “leading the way” toward a troubling future
PS the reason I’ve including this specific info-graphic is because it should make people (especially economists) realize that raw commodities (e.g. fossil fuels, water, various minded metals, lumber, etc.) to produce consumer goods have been used up since the post WWII consumer boom,… so the remaining scarce supply of raw commodities in turn pushes up the price for finished consumer products
https://www.unep.org/news-and-stories/story/were-gobbling-earths-resources-unsustainable-rate
<div id=”accel-snackbar” style=”left: 50%; transform: translate(-50%, 0px); top: 50px;”></div>August 4, 2024 at 8:03 PM #903304phaster
Participantmain idea(s)
• working people create supply and demand
• retired people create only demandthe “main idea” should also include the fact that the boomer generation has in general saved up a ‘yuge’ nest egg (According to the Federal Reserve data total net worth for boomers is $78.55 trillion)
just saying the boomer generation can’t take it with when they eventually kick the bucket, so they are opening down their nest egg,…
I’ve never taken a formal economics class BUT something the public at large needs to consider is baby boomers hold 51% of all wealth in the United States. [Source: Federal Reserve]
given the facts it should not take a rocket science degree to grasp the simple idea that the ‘yuge’ segment of wealthy of the boomer population, is the root cause of inflation
the inconvenient truth is American boomer because of their cumulative wealth and post WWII consumer mindset,… are “leading the way” toward a troubling future
PS the reason I’ve including this specific info-graphic is because it should make people (especially economists) realize that raw commodities (e.g. fossil fuels, water, various minded metals, lumber, etc.) to produce consumer goods have been used up since the post WWII consumer boom,… so the remaining scarce supply of raw commodities in turn pushes up the price for finished consumer products
https://www.unep.org/news-and-stories/story/were-gobbling-earths-resources-unsustainable-rate
<div id=”accel-snackbar” style=”left: 50%; transform: translate(-50%, 0px); top: 50px;”></div> -
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