When it comes to good careers, real estate has generally been a popular choice. You can set your own hours to a certain extent, and you can also work to control how much money you make. When real estate is booming, you can make a very, very good salary. When it’s not doing so well, though, you’re going to see the amount you’re making drop, as well. Many people who were making a large profit selling real estate decided that they wanted to spend their money, and they didn’t save any of it for a rainy day. They thought that they could go on forever, riding the high that the market was giving them.
When the bottom fell out of the housing market, many of these people saw drastic drops in their income. They also realized that they weren’t going to see things improve for a while, and they didn’t have any savings. Some of them lost their homes, just like the people they had sold homes to during the height of the housing bubble. Quite a few of them ended up bankrupt, and they took second jobs and downsized their lives so that they could survive. It was a huge reality check for many of them.
If you’re considering getting into real estate, it’s still a good career overall. You should know that this is a particularly volatile time in the real estate market, and things will go back up. In the meantime, professionals who have been in the business for some time believe very strongly that there will be another three or perhaps even five years to wait before the market really rebounds, so be prepared for that possibility. As long as you know what you’re getting into, you should be fine and able to wait out the current problems in favor of better days.