It’s a once in a lifetime opportunity to buy real estate! San Diego real estate real estate values have improved and will continue to do so. Rates are under 5%; large government home buyer credits exist. Prices have fallen so low, this market is going to boom!
The above are re-hashed comments real estate brokers are telling the public and “no-clue” news media to get the public to buy real estate. What are many of these same real estate insiders doing in their own businesses in the face of this huge market activity breakout? Here are the real facts:
Only 12% of real estate companies plan to increase hiring in the first half of 2010 and nearly two-thirds plan to reduce bonuses. That’s the finding of a recent survey of 33 CFOs and senior comptrollers from real estate companies, conducted by Grant Thornton LLP. In addition to bonuses, real estate companies are also reducing other employee benefits – 42 percent are reducing health care benefits; 32 percent are reducing 401k matches; and 58 percent of the real estate respondents said they are reducing salary raises.
They have to cut corners you know? Get production back on the line. The only way they can keep their employees until the boom comes back. I think they’re doing the right thing. Imagine if they simply just fired people instead?
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It may be the kick we need to get the market started again. If everyone cowers in fear that the market will never come back, then it really, will, never, come back. What’s a market without any buyers and just sellers?
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