The Orlando Sentinel reports on how the housing bubble burst has affected related industries.
Linda Rovetto is a property-title agent in west Orlando hasn’t taken a salary since the summer. She’s working fewer hours because there’s simply less business to handle. "We used to do anywhere from 13 to 20 [closings] a month," said Rovetto, who owns Florida Lakes Title & Closing in MetroWest. "In September, I did two."
"I sit here and I play solitaire" on the office computer, she said. "Even the junk work that everyone hates to do is done."
Cancellations have doubled or even tripled during the slump, Rovetto said. Some people change their minds about refinancing property; others can’t get approval for a mortgage.
More evidence why you should always save for a rainy day or have a counter economy business plan ready to go. You'd think re-financing would be hotter than it is with the interest rate dropping.