NAR represents 1,200.000 real estate agents and runs over four days, with lectures, displays and a massive expo displayed the newest and innovative ideas in real estate. The opportunity to network and learn from a massive base is amazing. Yes we have some cutting edge ideas to use in our local market.
50% of the 1.2m members have earned nil income in 2009.
250,000 have left the industry.
Real estate discounters have fallen like flies, closing and leaving staff and clients high and dry.
The majority of sales are what they call 'short sales', where the seller owes much more than the mortgage. Houses have dropped in price by anything from 10-50%.
The banks own but have not officially reposed seven million more homes which the government is funding till Jan/Feb 2010. This represents almost every house in Australia.
Many workers have had a 50% drop in income in retail and hospitality, its tough.
Detroit a city previously of 3 million people has reduced to around 1m people, they are bulldozing homes by the thousands.
Las Vegas homes have dropped dramatically with mansions previously selling for $1.5-2m dollars now buyable for $5/600,000.
There are two trains of thought 1. It has bottomed and will climb out slowly over the next 5 years or 2. There is another tsunami to come of what size is anyones guess. What ever happens the US has some tough years ahead.
They think we are insane to contemplate global warming taxes via the Rudds ETS.
A few findings that may be of interest in Australia:
- Petrol is half the price we are paying
- Cigarettes are only $5 as aginst $15 here.
- Clothing, food and drinks are very much cheaper (often 30% of our prices) regulalrly half the price. Its no doubt we are being screwed.
- People have become very friendly and open.
- Disneyland is more fantastic than ever.
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