The housing bust: Will it affect your job
8th June 2009
The bursting of an industry bubble has serious effects not only on that particular industry, but all related industries too. Take, for instance, the housing bubble. It has now officially burst in California. Who are the people losing business or their jobs? Of course, realtors are suffering. People in the mortgage lending business have taken a bloodbath. These are all very foreseeable effects of a bursting housing bubble. However, do you know who else might be affected?
Knowing the impact of a bursting bubble can help you be proactive in saving your income. You may think because you aren't in housing, you won't be affected. Actually, construction workers are being laid off. Builders are in serious trouble. This goes even further as retailers who supply builders are also faltering: Home Depot, for instance. Do you want to switch careers into an industry that is hemorrhaging jobs? Likely, the answer is a firm no.
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