Real Estate Jobs Help Economy Bounce Back
The new housing boom and a myriad of real estate jobs are helping the economy bounce back in many ways. The question is where are the best opportunities to capitalize on it?
Rising home values have certainly boosted consumer confidence and in turn consumer spending. Accordingly, the recent boom is being attributed to flipping houses. However, the housing sector is also now adding an abundance of real estate jobs. This will get people off the sofa, pump the economy with cash and help banks return to being flush with liquid capital. Banks will therefore be more eager to make home loans with.
Over 25% of jobs lost in the recession were real estate jobs. However, a new report from Career Builder reveals a massive surge in hiring and job postings being added. In the last two years, the firm has reported the addition of almost 200,000 construction jobs.
Furniture, hardware and home improvement stores are also seeing a big boost. Finance related employment has grown 30% since 2011 and then there are the countless related positions being added in insurance, home inspection, home services, design, marketing and more. This, however, doesn’t track all of the outsourced and offshore jobs being created either.
As real estate professionals and companies see their incomes increase, they will quickly hire many others.
This means a lift for the entire economy. However, there is no question that those areas with the fastest growing housing markets and those seeing the most new building activity are likely among those adding jobs the fastest and enjoying the most economic growth.
So where are these ripe destinations for finding a job, making more money and seeing your home value rise the most?
Favorites of new home builders like Houston, Miami and San Diego are easy to spot, but hotspots for revitalization and commercial development like New Haven, CT are also ones to check out too.