The real estate industry has lost thousands of jobs thanks to a global downturn
By RICHARD KENNEDYAssociated Press writerAssociated PressStaff writerBelize realty prices have dropped by about 70% in the last decade, but many workers have found themselves out of a job because of the downturn, said Bob Henson, a local real estate broker.
Henson said he’s seeing a lot of people with their heads down, unable to pay their bills.
“They are just trying to get by and trying to find a way to pay the bills, and we are seeing people with mortgages,” he said.
Hanson said some workers have been able to find alternative employment, but it is tough because most real estate companies have closed.
“It is a huge loss for the people who work here and their families,” he added.
Real estate has lost more than 8,300 jobs since 2000, according to the National Association of Realtors.
The unemployment rate in the region hit 7.9% in May, the highest since November 2007.