40,000 Jobs lost…the other side of the coin!

This is the flip side of all the mortgage sub prime mess.

40,000 jobs of those affiliated with the real estate finance industry have been lost in recent months throughout New England according to the Foster’s Daily Democrat Friday edition (I’m a bit late reading it)!

I know the Mortgage industry is hard hit with all this but 40,000 jobs in the New England area alone???

I think that’s a huge number and I’m afraid there will be more.

The impact is huge and the Mortgage Bankers and Brokers Association of New Hampshire (MBBA-NH), along with other New England mortgage bankers associations, are holding a job fair and professional coaching program at their next mortgage banking convention. What a great idea!

According to Foster’s “the NEMBC 2007 will embrace those mortgage professionals affected by the rash of corporate closings by hosting career counseling, employment workshops, a resume drop, career transition tips, networking opportunities, and other appropriate skills to secure new employment. Most importantly, NEMBC 2007 attendees will be able to network with more than 20 companies that are looking to hire.”

I wonder how many REALTORS have left the business? I know our numbers are down statewide.

I guess I never thought of the impact all this would have on the behind the scene workers. Of course those are people who won’t be buying a home or are struggling now  to keep the one they have.

What a mess for everyone invloved!

What a trickle down effect!

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