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URL:  http://boards.fool.com/quotcertainly-i-agree-that-people-are-more-30394282.aspx

Subject:  Re: Thomas Sowell on the unions killing Hostess Date:  11/21/2012  6:07 PM
Author:  telegraph Number:  656429 of 753492

"Certainly I agree that people are more mobile, often (even perhaps usually) leaving the places of their birth. But once a career is established it is not usually trivial to change it. I could, but I'd have to "start over" and give up my nearly 20 yrs of industry experience. Some people do it, but it's not trivial."


So? ANd some people change and make more money and advance more. That's your call.

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"Oh, no. I was thinking about engineering. "

Heck, in Telecom Corridor for at least 10 years, companies were poaching each others employees. Folks would be jumping jobs for annual 10 or 20% increases in pay. Employers were desperate to find bodies to fill openings. They'd pay moving expenses.

That lasted to 2000 when telecom melted down, but a lot of folks made a lot of money, and most are still 'in the industry' somewhere. Many had to move.

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For those who couldn't sell houses, many rented their current house and moved elsewhere till they could sell their house.

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"If you're tied to a house you can't pay for and can't sell, you can't very well move to a new job."

You can always sell..you might lose money, you might do a short sale....but if the economics of the new job are better, you might.

You might lease it too....rent it out.

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" The housing crisis hit workforce mobility in the US pretty hard, which meant that even as companies posted openings they weren't able to fill them."

Houses in WAsh DC are actually up and stayed pretty high. Depends on the area. Yeah, Miami and PHoenix got overbuilt, but just like stocks, you don't buy at insane multiples..or at prices the next sucker can't afford to buy..and expect to get out unscathed.

Too many believed in the greater fool theory.

If the economy gets going again and interest rates kick up, housing prices will drop another 20% over the next 10 years.


t.
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