Nearly 50 percent of real estate agents, who happen to be homeowners with with their feet on the ground in the trenches of the housing market, say conditions will worsen before they improve.

California is also one of nation's hardest hit housing markets and the Golden State's weak economy has left more than 11 percent of Californians unemployed, one of the highest rates in the nation, according to California's Employment Development Department Bureau of Labor of Statistics.

The unemployment rate is nearly twice as high in some Central Valley and Imperial Valley regions, where foreclosure rates are also high.

But the "official" unemployment rate doesn't count those who've had their incomes slashed, but are still working, nor does it tally independent contractors and others who aren't included on the state employment roll and don't get counted when their jobs go missing in action.

It's not surprising many real estate agents are no longer so bullish on housing.

Many of them are independent contractors and a recent survey reveals they haven't been spared problems with incomes, retirement savings, homeownership and other financial and personal issues.

"Everyone asks them questions about the real estate industry, but nobody has asked them about their own personal economic situations. Our survey shows that both personally and professionally, they have had to make significant sacrifices to adapt to the new environment," says Paula DeLaurentis chief marketing officer of ENTITLE DIRECT, a direct-to-consumer title insurance company.

When ENTITLE DIRECT surveyed 300 California real estate brokers and agents based in Los Angeles, San Francisco, San Diego, Oakland, Orange County, San Jose, Riverside, San Bernardino and Long Beach, it found that 89 percent of them reported that the economic downturn has impacted their personal financial situation, compared to 87 percent of real estate agents in a national survey.

ENTITLE DIRECT, also found, among California agents:

• Eighty-nine percent indicated the downturn negatively impacted plans for retirement.

• Eighty-nine percent also reported the downturn reduced their commissions.

• Eighty-eight percent claim they have lost money, are making less money or are depending on savings now to supplement their income.

• Sixty-two percent believe that they have been affected more negatively by the housing crisis than have friends and family who work in other industries.

• Sixteen percent say they had to get a second job.

• Twelve percent said they lost their home to foreclosure (33 percent higher than the national average) and 10 percent were forced to sell their primary home.

• Twelve percent reported that they have been forced to rent, compared to 9 percent nationwide.

• Ten percent said they were forced to downsize their housing.

The ENTITLE DIRECT survey also asked real estate agents about their interactions with clients. Among California real estate agents;

• Sixty-seven percent believe that homeowners are selling their homes because they can no longer afford them, a rate that's more than 10 percent higher than the national average.

• Sixty-six percent believe that those who are in a position to buy are taking advantage of lower interest rates.

"The reason we conducted this survey was to find out how the recession has specifically impacted the personal situations and finances of agents and brokers directly, and to tell their stories," DeLaurentis said.



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