From Cleveland, Ohio news: "Max Berger says, I think half our department is gone, it’s probably the biggest department in the company. At least 75 at least got laid off.
Max Berger, now a former employee of Union Home Mortgage found out last Tuesday he was out of a job along with dozens of others. Berger worked as a Connect Team Partner to find leads for loan officers. He’s heartbroken and angry, “I have no words.”
The company is not confirming exactly how many people were laid-off. It released a statement, saying in part:
“The residential housing market has turned quickly due to historically low inventory of homes for sale and a rapid rise in interest rates due to inflation.”
“They just told us we don’t have much business anymore. There’s not enough leads to go around for everyone to make money and for the company to make money,” Berger told 19 News.
When you're reading these types of stories out of places like Cleveland, Ohio and Detroit, Michigan, the entire narrative of "no nationwide housing bubble in the United States" is revealed to be total bullshit (just like last time in 2006 - 2007).
Thanks Fed!!
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