One potentially positive factor, as many of us know, is that we're entering the "busy" season for home buying, since most people relocating want to do so after kids finish the school year. Loan applications are already ticking up a little bit, so that may help some. I'm not saying that things aren't still slowing overall, but the seasonal activity may provide more time to figure develop replacement income from somewhere.
The current cycle is reminding me a great deal of what this industry went through after the "mortgage meltdown".
I agree that the downward cycle 'thins the herd' and that lots of people will leave this field. Others will just find other things to do to supplement their loan signing work or manage to market successfully enough to keep busy. Eventually, the cycle will hit an upswing again and get busier, but that may take years and who knows how technology will impact us. |
