When you’re trying to judge the direction of the market, it’s important to know what the economists are seeing. That’s why, at the start of each year, we report the latest forecast from NATIONAL ASSOCIATION OF REALTORS® Chief Economist Lawrence Yun.
From the beginning of the financial crisis, there seemed to be a general consensus about how to get housing back on track. Unfortunately, on the ground there’s little evidence of genuine consensus. Yes, qualifying standards have been tightened—but to the point where even some well-qualified people can’t get loans.
A profitable niche isn’t something you can pull out of a hat. It may require knowledge of specialized language and customs. Often, it’s not something you select at all but something that finds you as a result of your education, experience, and passion.
One great thing about the Internet is that it allows magazines like ours to provide valuable tools and resources that go well beyond what we could provide in print. REALTOR® magazine’s webinars are a prime example.
REALTOR® magazine is not immune from the pressures of the for-profit media. We saw ad revenues decline in 2008, despite research that shows our readership remains strong. Rather than ask REALTORS® to shoulder the cost of producing a magazine that for years has been self-supporting, we’re reducing the number of issues in 2009 from 12 to 10.