Luckily, I am in the position of not being the least bit worried for myself, but I do not relish the idea of hordes of otherwise hardworking people getting laid off.
As I’ve said elsewhere, for the risky high-fliers on Wall Street or in RE I have no such compassion. I’ve family and friends in both and the smart ones have already made accommodations for bad times, which inevitably come around.
Those who wasted these past “summer months” without setting aside some nuts for winter will have some lean times ahead. Maybe they’ll become a bit more cautious next time.
