While economists appear to have breathed a sigh of relief at the Federal Reserve's possible pause in raising short term interest rates, inflation could reignite with an uptick in jobs.
That could be good for housing.
Following a long fallow period where job creation and salaries have been stagnant, made worse when Congress couldn't agree on a new minimum wage, the economy appears to be growing. (The minimum wage hasn't increased in ten years, yet double digit increases in the cost of housing and utilities have eroded the buying power of wages over the last few years. According to the Economic Policy Institute , the buying power of minimum wage workers has decreased 20 percent since 1997. If they were shopping 1955 prices, they'd be all right, but unfortunately, they aren't.)
Unlike the "jobless recovery" of 2001-2003, hiring managers are in the mood to add more staff, according to a poll by CareerBuilder.com, suggesting that many who stayed put in unproductive, unsatisfying or lower wage jobs may take advantage of the growing economy to find better positions.
Tracking hiring and job search activities for the third quarter of 2006, the survey, titled "Q3 2006 Job Forecast," was conducted from June 6 to June 16, 2006 of more than 2,200 workers, including over 1000 hiring managers primarily operating in services industries, and the results indicate a startling possibility -- lots of people will be changing jobs.
Of respondents, as many as one out of ten intend to change jobs in the next quarter, and one in five say they will change jobs in the next six months.
That's a whole lotta movin' goin' on.
Crafty Realtors might get there first by finding out who's hiring in their areas by reading the online and print ads. Talk to people -- as you drive neighborhoods, stop and chat with people you meet and ask them what's happening in their neighborhoods. You can find out firsthand whether people are moving in or moving out and why.
Also, visit the Chamber of Commerce to learn what developments are taking place. Take this information, and emphasize your skills in relocation in your advertising. If you don't work for a company with a relocation division, you can offer to help relocating buyers and sellers yourself by going to company HR relocation divisions or smaller personnel departments, introducing yourself, and leaving listing packets that emphasize your technology skills, communication skills, and list-to-sales price and days on market. Follow up with an electronic newsletter that includes your local market conditions.
People reward persistence and enthusiasm.
