The last recession was in 1990 and the industry got good for Wannabes around 1998. Take 2007, add 8 years = 2015.
That's at least a guess based on past experiences.
This time Pay To Fly changes the game. But make no doubt, I was face to face with a new recruit to the Wannabe Zombie Army last week, they are relentless. Despite not knowing what an IR is, not even knowing that jobs were hard to come by, not even ever having been in a light aircraft ever - they had applied to Oxford and were doing 'the basic' Integrated course starting early next year. Daddy was paying, working away for the last 6 months in the energy industry he was quite happy to compensate his offspring for the lack of attention by writing a big cheque to OATS. No questions asked, no research conducted.
It happens all the time.
These people can out spend you. Out re-current you. Out type-rate you. Out pay-to-fly you.
And the worst of it.
Its not even a lifelong dream job for some of them.
Be very careful. Train slowly. Avoid debt. Interest rates will rocket. You can really screw up your life with flying training.
Good luck,
WWW