Industry wide layoffs? Better.com most recently had some.
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[{"id": "hn4f2jy", "text": "Well, Zillow I know messed up and with their Zillow Offers. Ended up just closing everything down under Zillow Offers which lead to ~2,000 layoffs or 20% of their staff. Check out this link which cuts straight to the point on what happened. https://www.google.com/amp/s/www.wsj.com/amp/articles/zillow-offers-real-estate-algorithm-homes-ibuyer-11637159261\n\nI don\u2019t know about better.com but I\u2019ll look into it. But since Zillow is residential I don\u2019t see why it would affect commercial nationwide companies.", "replies": [{"id": "hn4rrb0", "text": "Better was heavy into refi which is very cyclical. Ignore", "replies": [], "depth": 2}], "depth": 1}, {"id": "hn4fsvm", "text": "yeah you are going to get fired for sure", "replies": [], "depth": 1}, {"id": "hn4muth", "text": "Zillow and Better are focused on single family homes. Both of which had layoffs for company-specific reasons, not because of the broader economy. \n\nBerkadia is a good firm. You will be fine.", "replies": [], "depth": 1}, {"id": "hn5fe0g", "text": "If you followed the residential market close enough, or talked to people really in the business, you would have heard that industry professionals were highly skeptical of the long term prospects of both companies (Zillow Offers, not their agent program). Both of these companies seemed to be operating based on the assumption that prices would continue to rise and rates would continue to fall in order scale operations and distract from actual negative margins in the second hottest resi market of all time. There\u2019s some other companies that will likely follow suit, they just had better operations and are bleeding slower than these 2. \n\nSo no, I wouldn\u2019t worry about the larger industry. These are just some over optimistic \u201cvisionaries\u201d who finally have to eat their shit sandwich. No different than the people we complain about buying multifam at 2 caps now. That said, if I was a loan originator, I\u2019d probably start training for another field. A lot of those guys will get fucked as rates rise since they\u2019ve ridden the refi gravy train the last 5 years.", "replies": [], "depth": 1}, {"id": "hn9gwdc", "text": "I think it\u2019s the opposite. From everyone I\u2019ve talked to, especially banks and brokers, people are trying to hire and there are not enough skilled junior people in the workforce to fill the positions.", "replies": [], "depth": 1}]