Real Estate Industry Begins MASS LAYOFFS!

Real Estate
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Compass over the last few years has expanded rapidly hiring realtors and real estate brokers across the country. They have recruited many top realtors that were selling small homes as well as massive multi million dollar luxury mansions in markets such as New York City, The Hamptons, Miami, Los Angeles, Beverly Hills, Austin Texas and more. These realtors brought in billions of dollars in sales and compass has profited immensely due to this expansion. However now we rare seeing a contraction in the housing market and it looks like we could soon step into a real estate crash where values plummet and home sales dry up.

At the same time we are now seeing the online discount brokerage, Redfin begin laying off realtors and real estate brokerages. Could this be a coincidence or is this now normal? We are also seeing Bank of America, Better.com and other real estate mortgage companies issuing massive layoffs.

I think what we are witnessing is the end of the real estate bull run and instead we are now entering a bear market for real estate and the stock market and these CEO’s and Executives know it.

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