It has nothing to do with their skills, attitude, experience, education or expertise. It’s all about the bottom line.

The state budget is forcing the layoffs of teachers and municipal employees. Banks are shedding employees like fleas. Real estate, construction and allied fields are in the same boat. The insurance crisis is wreaking havoc for health care reimbursement which impacts the hospitals and doctors. Malpractice legislation has sent doctors fleeing. We almost lost a Level One trauma center because the fed-up doctors were recruited to another state.

Our major economic driver — hospitality (the theme parks, restaurants, hotels, transportation, etc., mostly hourly jobs that don’t provide a fair living-wage) — is seeing the impact. Rising gasoline prices mean fewer vacationers.

It’s hitting all industries and disciplines here. Want to move to Florida???

I think West Toronto was making the observation (which was true here too) that when the real estate market was hot and growing exponentially year after year, everyone wanted to become a realtor. I know three people who were nurses or teachers and changed careers in the last five years because it seemed like a no-lose proposition. Houses used to sell before the sign hit the street, often for way over asking. Speculators came in for quick flips but now they can’t find a buyer and the house is worth less than they paid for it. Mortgages are harder to get (this is a good thing). It’s not a pretty sight right now. I suspect those who headed toward realty because it seemed exciting will be returning to their original fields if there are spots open.

Thanks for responding. I’ll be dropping by your blog soon. Have a great rest-of-the-weekend.

Take care. g

The market correction is also necessary because prices had grown so artificially and so fast in Florida.

So, it’s probably a situation we need to go through — just unfortunate for those with one mortgage too many. Thanks for writing.