As Fed cant keep pumping money anymore buying up MBS, banks will stop making shady mortgage loans which is pretty much more than half the loans. So no wonder loan officers are out of job.
And it will explode from there. If you can't get a loan, then construction workers will not get paid. If they don't get paid, stores like Menards, Home Depot, and Lowes will close followed by other stores and other jobs will disappear. It is going to get bad.
As Fed cant keep pumping money anymore buying up MBS, banks will stop making shady mortgage loans which is pretty much more than half the loans. So no wonder loan officers are out of job.
And it will explode from there. If you can't get a loan, then construction workers will not get paid. If they don't get paid, stores like Menards, Home Depot, and Lowes will close followed by other stores and other jobs will disappear. It is going to get bad.
The chickens are coming home to roost. If people didn't learn their lesson FOURTEEN YEARS ago, then they are going to get fucked.
90% by end of year
This is happening to the entire real estate industry. The effects in jobs will be like the housing crash of 2008.
Remember when Wells Fargo went woke? Now it seems they are going broke.
I left them after they ate the woke pill. I won't do business with them anymore.
True. If you have money in any of the big banks, get it out now.