Despite the magnitude and complexity of the real estate market, many people tend to think the industry consists merely of brokers and salespeople. However, millions of people in fact earn a living through real estate, not only in sales but also in appraisals, property management, financing, construction, development, counseling, education, and several other fields.
The tentacles of real estate are long and widespread. Few consider that. Think of the flooring company in town, they are mostly dependent upon real estate for their success.
It is why a real estate pullback is so detrimental economically.
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Spot on sir!