It would be a good time to start a company that provides retraining options for realtors! Seriously, to echo what powayseller said, the country will be better off if some of these folks go into engineering and nursing. Lucrative fields with huge shortages of manpower. If I had the slightest bit of interest myself I would become an RN.
A huge correction will result in other positives. Less risky seconds to eliminate PMI and fund consumption, and more job creation in other fields that will benefit from the increased consumption not going towards housing. The social impact of opening up more housing to lower income families is also a plus, not to mention the affect this will have on better positioning families to save more for retirement and education if they wish.
