WSJ: Wall Street Jobs Cuts permanenet

Until the next time....

actually read an article couple days back (can't remember right now) saying we have 16% fewer wall street jobs than something like 10-15-20 years ago. But overall pay is higher.

So, in the end, the raw hire/fire numbers may not be anywhere near as important as what the comp numbers look like.

If we lose some analysts and secretaries and new MBAs, there will be some impact. But if it just means the senior guys are being paid more, what's the real RE impact?

swe, so overall pay is slightly higher but RE is twice as expensive (or more if comparing to 20 years ago). bullish!

imo, the real impact (bearish) is years away still.

Well, not quite. We'll have to see where this ends ups, but even the drop 2010 year... was more than 2x 2002. 3x more than 2001 or any year before 97.

Essentially, we're around 20 bil these days.... after peaking at 30 bil... before the big runup, things really maxed at 10 bil.

I wouldn't mind seeing a link for that data; got one handy?

try this...

http://www.businessinsider.com/hmm-wonder-whatll-happen-to-manhattan-condo-prices-2009-2

then I looked up the last couple years... saw 20 mil

sorry, 20 bil.

Jason, you can't spell permanent in a headline or bullish as an introduction to your posts. You still want me to visit your employer to see what you do?
You aren't surreptitiously intending to use me to burnish your credentials, are you?

Correlation there seems low. There should be a lead-lag effect, probably pay should lag the housing market.

weird enough friends from wall street are looking into buying. imho their jobs are not particularly stable ones, you'd think they would be able to anticipate layoffs going forward...

so far, nobody seems anxious about layoffs over there according to them.

anecdotal. wall street's clearly still shedding jobs, though of course there are pockets of stability... kudos to your friends.

Maybe your sample of friends isn't so random...

But UD shows pending sales are way down, and this is supposed to be prime season, no? Inventory is also up...

> this is supposed to be prime season

really? thought the peak was before the beginning of school year and it was dead during Dec/January. is that true only for suburbia but not for nyc?

notadmin, I'm figuring those "purchases" from August/September would be the pending ones now...

swe, take another look at the chart - the cycle pattern is uncanny, especially compared to last year. Pending sales actually hit their lowest point of the year in Oct. Inventory usually tracks pending sales (well, pending sales tracks inventory, to be more precise), except in the fall season, where there's a dramatic shift in inventory (loads of people coming to market in the weeks after Labor Day).

http://urbandigs.com/chart.php?s1=Pending+Sales&s2=Active&mindt=01%2F01%2F2008&maxdt=11%2F04%2F2011&t=Market+Trends&interval_mindt=2009%2F11%2F03