If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Downturns in fortune are not typically happy events. Loss of job, income, and savings will raise the stress level for any of us facing these issues.

But MSNBC has a new article on how these downturns are affecting those in the real estate business. The gist of it is pretty generic, downturns raise stress and makes those used to living on easy street make hard decisions on how to stay afloat.

I am pretty non plussed by the tone of the article. You could replace the terms real estate professional with those of almost any other profession or job category facing economic cycles. Heck, in our household my wife took over a 30 percent real pay cut in 2 years when pay was reduced and benefits cut in the airline industry.

So my question to you is, how are you doing in the real estate downturn? Are you eating rice and beans or are you finding new opportunities?

The housing collapse has pushed mental health issues to the forefront for companies, trade groups and individuals closely tied to an industry that, for years, only knew good times. Builders, brokers, bankers and lenders are just beginning to deal with the mental fallout from the city’s first prolonged real estate slowdown in two decades.

Jones, educational director for the second-largest home builder association in the nation, said her organization’s mental health concern is increasing. “We haven’t had any members commit suicide this year,” she said. “But we have had members touched by it. We’re trying to ensure our members are dealing with this in a healthy way.”

The stress of the seemingly overnight housing collapse is felt in a host of ways, lenders and builders said. Mortgage lenders who made loans are now out of work, out of the industry or struggling to make ends meet. Bankers are seeing clients they’ve worked with for decades going bust, adding to their own businesses’ woes. Builders are struggling to stay afloat, doing whatever they can to keep their doors open. That means layoffs, along with pay and job cuts.  via msnbc.com.

Other Posts You May Be Interested In:

• BB&T to Acquire Collateral Real Estate Capital LLC
• Tastykake Moving to Economic Development Zone - Less Taxes, Lower Borrowing, and Layoffs
• Top 10 Most Expensive States For Closing Costs
• Los Angeles - An Example of A Market Stabilizing
• Sub-Prime Reform In Congress, Mistakes Upon Mistakes