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My guess is real estate will be disrupted long before Wall Street. Having worked in both finance and real estate, the parallels between real estate transaction
by leelin 16y ago
My guess is real estate will be disrupted long before Wall Street.
Having worked in both finance and real estate, the parallels between real estate transactions and I-banking deals are shockingly similar, only I-banking deals are much more complex and high stakes. If you think investment bankers will soon be out of work, you should also be betting the real estate broker as a profession will be eradicated the way eTrade destroyed the old school retail stock broker.
Sadly, right now I'd take the other side of the trade for the next 5 years (long Wall Street, short startups trying to disrupt M&A). When amateurs engage in very complex and high stakes deals, such as buying or selling a house priced more than their net worth, they tend to want professional hand holding, among many, many other things.
- aspiringsensei 16y ago> eTrade destroyed the old school retail stock broker Don't look now, but these guys are still very much alive[1].You may not use them, but plenty of people are still charging $150 for a stock trade under a theory their advice is of value. [1] Assuming you're referring to the mid-80s school of brokers, not the standardized commissions school.