Mortgage and Real Estate job hunting?

I am thinking about working in the mortgage industry, but I keep hearing that the market is changing fast and that houses are not selling and rates are going up. Last month I read that over 1 million people was going to be laid off. Is this just hype or what. What should I do?

Answer:
you will see a shake out in the industry, Ameriquest, the biggest sub prime lender in the US is laying off thousands, business is down, as the rate went up and less and less people are qualified, and house prices have not really gone down to meet salaries.. you got in effect a stall and now a reverse downward trend.. and that means less use for lenders, brokers and Realtors.. depending on the city.. the market can be brutally tough for all parties involved.. but then the whole mess is of there own making.. as flooding the market with cheap money led to record speculation, which in turn drove home prices through the roof.. this in turn led the mortgage industry to get creative in order to sell more loans..it wasn't that people were qualified.. many still are not..but those interest only or teaser rates or what ever was used to get people into an over priced house made huge profits for only the sellers, the loan originators and the Realtors..
now all of that is gone
and flippers, condo conversions etc are a huge slowdown
I personally am glad people are losing there house.. i only hope it gets worse. far worse. Other Questions and Answers:
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