Oh, my, how the tables have turned, and it appears the REIC-backlash is in full bloom.
Probably the biggest reason for not hiring anyone with "realtor", "mortgage broker" or "appraiser" on their resume is that you don't know how long they'll be able to work until the FBI comes in and arrests them.
Plus you'd always be worried about them stealing the office supplies. Or running some kind of con game on their lunch hour.
So what will become of the hundreds of thousands of REIC who lose their jobs? Back to bartending, stripping, used car sales and drug dealing I'd expect.
As lending industry crashes, thousands seek jobs elsewhere
The subprime home-loan rush is history.
But its impact on the state's work force is just beginning to play out as tens of thousands of real estate, finance and construction workers are left looking for work after a number of heady years.
Like a lot of mortgage industry workers, Stush, 55, tried to get work in other kinds of financial services such as insurance, but he found a huge stigma attached to the mortgage industry that disqualified him from even being considered for many jobs.
"It's unjust. If you were in the mortgage industry for a long time ... employers think you're used to making so much money that you're not going to take $50,000 or $70,000 a year. ... They also think (mortgage lenders) are all money-hungry pigs, but it's not true. Employers are missing out on some really outstanding employees."
It's not uncommon to see disclaimers on Internet job postings that say: "NO REAL ESTATE OR MORTGAGE CANDIDATES PLEASE."