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Korean Job Discussion Forums
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dogshed
Joined: 28 Apr 2006
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 Posted: Sun Dec 23, 2007 6:24 pm Post subject: |
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It's important to keep blame separate from mechanism when looking for
short and long term solutions.
The housing bubble was going to burst. Nobody really knew exactly when.
I'm not sure there is a way to gently deflate a bubble. By definition it
must pop. If it gently deflates then it wasn't a bubble.
I suppose next we will have the rental bubble. |
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thepeel
Joined: 08 Aug 2004
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| Posted: Thu Dec 27, 2007 1:25 am Post subject: |
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| Kuros wrote: |
| thepeel wrote: |
| Kuros wrote: |
| It'll be interesting, because the people who are getting hit hardest in this crisis are those employed in finance. |
Well, not really. Unless we include mortgage slingers as "finance". The residential construction industry has been wiped out, as have nearly all title companies in coastal cities. Commercial property will also crap the bed in this crises, and the commercial construction will follow the residential. Reno/general contractors are going bust at a large rate and the real estate industry (agents, specialist lawyers, appraisers etc) will be wiped out in near total.
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really?
really??
really???
According to outplacement firm Challenger, Gray, and Christmas, those 130,000 job cuts are nearly three times the 50,000 cuts reported for all of 2006, and has already smashed the all-time record of 116,000 layoffs set in 2001. |
Yes, really. You said "the people being hit hardest". The hardest hit are builders, agents, loan slingers and the like. Some financial jobs will be lost, but they are far more safe than I think you assume. Lots of 1y have been canned. The key word I was disagreeing with was "hardest". |
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