Real Estate

With so many foreclosures and so much standing inventory. Will new homes sales ever pick back up again and if so how long will it take?
The reason I ask is because I’m a carpenter and before 2006, all I did was remodeling and alteration work on older homes. Then I wanted to get into new construction in 2006. I enrolled in the carpentry program at a Technical college just before the housing crisis hit. Now that I have learned all these new skills, I can’t find a job because there’s no demand for new homes anymore. Has anyone else been faced with a similar situation? and does anyone think I should get back into fixing up older homes again or just look for a different line of work?

I suggest going back to fixing up older homes. There is no telling when the housing market will turn around. We may see some movement toward the end of summer, but I would not take any bets on it. The problem is that this so called stimulus package does little to help the housing market or apparently much to encourage banks to lend more money to those wanting to purchase a home. In reality I expect the economy to be off for most or all of the year if not longer. I am sorry to be so pessimistic but this situation will likely take years to recover. That doesn’t mean that we won’t see improvements but we will all need to make adjustments.

I would remain flexible as to what you should do. If you think that you can earn a good living repairing homes then I say go for it. Jobs are getting more difficult to find. If you can find something where you can earn a good living then you would probably be better off doing it so that you can at least have an income. You should have some contacts in the repair business. There are usually those who need small projects done. You could try it and if it doesn’t work then you could do something else. You may find work with some of the lenders who have repossessed homes. I am sure some have been left in disrepair.

One Response

1. Flyby Says:
   February 26th, 2010 at 12:36 am

   I suggest going back to fixing up older homes. There is no telling when the housing market will turn around. We may see some movement toward the end of summer, but I would not take any bets on it. The problem is that this so called stimulus package does little to help the housing market or apparently much to encourage banks to lend more money to those wanting to purchase a home. In reality I expect the economy to be off for most or all of the year if not longer. I am sorry to be so pessimistic but this situation will likely take years to recover. That doesn’t mean that we won’t see improvements but we will all need to make adjustments.

   I would remain flexible as to what you should do. If you think that you can earn a good living repairing homes then I say go for it. Jobs are getting more difficult to find. If you can find something where you can earn a good living then you would probably be better off doing it so that you can at least have an income. You should have some contacts in the repair business. There are usually those who need small projects done. You could try it and if it doesn’t work then you could do something else. You may find work with some of the lenders who have repossessed homes. I am sure some have been left in disrepair.
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