Our Long National Joy Ride is Over
Posted by REALonomics on April 16th, 2007
Has the national roller coaster joy ride come to an end? REALonomics believes it started dying in January, 2005, plus or minus a few months and that we will enter a 2-3 year recovery cycle that will challenge the profitability of many real estate brokerage firms. The return to “normal” will also introduce new business models into the national equation. Take this fascinating ride and enjoy the drama. This roller coaster ride is actually based upon U.S. home prices adjusted for inflation and then plotted as a roller coaster ride:
REALonomics thanks SpeculativeBubble and Richard Hodge.
Don’t forget to vote in the REALonomics polls for April, 2007.
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Love the video. Saw it a few days ago on another site, and was hoping to find it again. One good thing with this downturn might be a shakeout of the realtors that came into the game during 2004 to make a quick buck. Time will tell.
Shaun…you are correct about the long overdue shakeout. Watch REALonomics for the next post which will address this very subject and the industry’s inability to do what other businesses do, engage in cutbacks that are demanded when over-employing results in a poor ROI.
I look forward to it. Sounds like a great topic.