If you’ve been thinking about getting some real estate investment training, you’re probably hungry to learn everything you can. In today’s post, we’re talking about globalization and whether it’s a failed experiment.
Globalization is a term that refers to the interconnectedness of the world’s economies, societies, and cultures. This interconnectedness is a result of in technology and brought an increasing flow of goods, services, information, and people across borders. This has led to greater interdependence of economies and societies around the world.
One of the reasons to become a real estate investor is globalization. While there are benefits as a result of globalization, unfortunately they were not shared with everyone. You can’t send real estate overseas, which means it’s a great replacement for your income from a job.
Some of the ways globalization has caused harm include:
Job loss. Companies have relocated operations and sent jobs to countries with lower labor costs, resulting in job loss for American workers.
Wage stagnation. The increase in competition from workers in other countries has put downward pressure on wages for many American workers, especially those in low-skilled jobs.
Decline in bargaining power. Companies moving jobs overseas has weakened the bargaining power of American workers, making it harder for them to negotiate for better wages and working conditions.
That is, until the pandemic. We saw who the essential workers were during the pandemic and it was usually front line workers who typically are undervalued. We also see the younger generation’s workers less tolerant of traditional work situations, the rise of “ghosting” a job they hate, (disappearing with no notice), and generally refusing to “pay their dues.”
Increased income inequality: Globalization has contributed to a widening gap between the rich and poor in the United States, as the benefits of economic growth have disproportionately gone to those at the top.
Many people whose jobs were outsourced mid-career did not know or understand globalization, and there was no help from anyone when their jobs were sent off shore. There were no job counselors or government programs to retrain these people, and many struggled in their careers.
All of these reasons are good reasons why you should become a real estate investor. Check out coach and attorney Brian Gormley’s Real Estate Masterclass to get started on your real estate investment journey today!