The Incredible Shrinking Economy

The Incredible Shrinking Economy
No one has to wait for the other shoe to drop. So many shoes have fallen that even Imelda Marcos has to be running short by now. When companies like Microsoft and Intel lay off people, things are getting tight. What will the economy look like when (and if) it does come back? Worldwide demand for goods and services seems to be declining. Many of the things people were buying were really unnecessary and it may be that those purchases will never be made.
We do need a lot of energy related technology. As energy gets cheaper due to lower demand, the immediate economic need for this technology diminishes. It is kind of like a roof repair. You can’t fix it when it’s raining. You don’t need to when it’s not. Energy and the environment could offer some really good long term high paying employment opportunities. Education is another field that could stand some expansion and improvement.
I do not think that the real estate business will ever go back to our old familiar business. We will probably wind up with something like the European model…fewer transactions, lower commissions, more competition.

David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com