|Out of curiosity here, why would you think this business is dying? This industry is cyclical, mainly because other cyclical factors influence it (like the economy, stock market, etc.). All housing/market crashes prior to this one have always recovered, so why would one think this one won't? Because you don't know when? Well we didn't know that before either. I think the opposite, if one is not planning and preparing now (by doing their homework) for the next fast ride in the mortgage industry, they will not only be left behind, but pay more in trying to start fresh all over again. |
I do agree that "paying" to plan and prep for this gig is not a necessity, but if you think there are a lot of people in this strictly as a "hobby," you are mistaken. Who picks up a hobby requiring gas at triple the cost it was a year ago? Your "competition" is notaries that want to make a profit, and keep their heads above water. Unlike those who wont start their car for less than $125. You answered your own concern. Mortgages are crushed because rates are also triple what they were last year, and they are only going higher! The labor market is "hot?" NOT! You can listen to those job report numbers all you want, but what they are not telling you is how many of those jobs were filled out by the government themselves. All that monopoly money they pushed out for government projects and programs comes with mass government hiring. So in essence, they are taking credit for something they created themselves.
It appears to me you must be a newer notary, got used to eating steak the last couple years, and now that your eating chicken, you are sour. A "seasoned" notary would not have only saw this coming, but planned and prepared for it.