I can attest to what you said. I'm currently in a serious job search and I've spoken to a number of recruiters in SD, OC and LA who have been deluged with resumes from former loan analysts and mortgage type workers looking for 100K plus jobs. Problem is that they don't have transferable skill sets for say Manufacturing analysis or even real service sector industries or hi tech industries where they actually make and do stuff.
Welcome to 2001, when the dot.bomb bust put a lot of not-so-skilled "IT worker" out on the street. Somehow, people couldn't figure out why html skills no longer qualified as "software work" that commanded six figures. Funny that a lot of these people inevitability became RE "professionals".
