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A comment on Rocket Mortgage to trim 8% of workforce as home-loan market shrinks. Parent comment

Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by xadhominemx on Thursday April 28, 2022 @09:00AM (#31191915)
> The true demand from people with the intend to actually live in the estates has been constantly decreasing since around 2000; the real salarys dropped since then, so did the buying power.

> When 90 (?) percent of people simply lack the buying power to participate in the real estate market, but the other 10% happily sell each other estates, that's not a bubble, the real estate market just stopped interfacing with the vast majority of the population.

Nonsense. The home ownership rate is 65%, in-line with the long term average and the same as it was in the year 2000

https://fred.stlouisfed.org/series/RHORUSQ156N

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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by mirntyfirty on Thursday April 28, 2022 @10:44AM (#31193091)
I’d disagree in the sense that the home ownership population differs from those that have been buying or selling in the last few years.
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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by xadhominemx on Thursday April 28, 2022 @12:52PM (#31194887)
If millennials were not buying homes at similar rates to their parents, the home ownership rate would be declining
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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by jeffreyrogers on Thursday April 28, 2022 @02:15PM (#31196111)
People still talk about millennials as if they are still in their 20s, but the oldest millennials are now 40. I'd guess that age of first home purchase has been trending up for a while.
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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by ClumsyPilot on Thursday April 28, 2022 @01:43PM (#31195648)
There is no need for hypotheticals, we know for a fact they are not buying homws at a similar rate as their parents
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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by xadhominemx on Thursday April 28, 2022 @03:09PM (#31196863)
Home ownership rates for people under 35 is the same as it was in the mid-90’s and only a few % lower than it was at the peak of the housing bubble
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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by petra on Thursday April 28, 2022 @02:16PM (#31196118)
More people are investing in real-estate, and less millenials are buying.
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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by alistairSH on Thursday April 28, 2022 @03:48PM (#31197344)
Millennials made up 43% of home-buyers in 2021, the largest of any generation. That's up from 37% in 2020.

https://www.nar.realtor/newsroom/nar-report-shows-share-of-m...

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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by eli_gottlieb on Thursday April 28, 2022 @11:30AM (#31193732)
>Nonsense. The home ownership rate is 65%, in-line with the long term average and the same as it was in the year 2000

The homeownership rate is counted in terms of households, no? So it can be kept artificially high just by having 20-somethings no longer move out of their parents' houses.

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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by mminer237 on Thursday April 28, 2022 @12:02PM (#31194212)
That wouldn't count against it, but it wouldn't count for it either.
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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by bogomipz on Thursday April 28, 2022 @01:41PM (#31195610)
The Baby-Boomer generation in the US is increasingly deciding to "age in place" rather than downsize and/or move to assisted living facilities. This is certainly a factor in the ownership figure you are quoting. There has been lots of coverage in this trend the last few years as well. See:

https://www.nytimes.com/2021/07/08/realestate/baby-boomers-r...

and

https://archive.ph/0LXQu

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