It depends on what part of the market you work in. There is always money to be made in real estate especially in a down market, which is where most fortunes are made.
Those getting out of the business worked the easy money as long as they could, but when things get tough, most get out and find something else to do.
Some quick stats. Next year with the coming wave of Alt-A and Option ARM defaults coming (not to mention the commercial loan defaults no one is talking about) approx. 70% of properties on the market next year will be distressed- REO or short sales.
If you were to educate yourself on being a listing agent for banks or learn how to negotiate short sales, you could position yourself as an expert in that area and the go to guy/gal in that market. There is even a designation for a certified distressed property expert from NAR.
Just a quick example but it si what you make of it and there are always segments of the market to make money in an up, down or sideways market. When you get the education you can spot opportunity everywhere when everyone else is running for the door.
hope that gives you a balanced perspective.
