From Above The Law: Law School Class Sizes Continue To Shrink. Are We Close To A Crash?

http://abovethelaw.com/2012/11/law-school-class-sizes-continue-to-shrink-are-we-close-to-a-crash/

Law School Class Sizes Continue To Shrink. Are We Close To A Crash?

By ELIE MYSTAL

Today brings us more evidence that the number of people applying to law school is dropping. A new Kaplan survey shows that 51 percent of law schools have cut the size of their incoming classes. Of those schools, 63 percent claim they are cutting in response to the weak legal job market.
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But some people see a crash coming, one that will force a few law schools out of business…

Paul Campos, writing on Inside the Law School Scam, sees doomsday in the declining application numbers:

I’m not normally a big fan of predictions, but I’m going to make one: We’re about to see the Crash. This is the spring of 2007 for the subprime CDO market. This is the moment when the anxiety that replaced denial is in turn replaced by panic.