Rocket Mortgage to trim 8% of workforce as home-loan market shrinks

Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by lmt55 on Thursday April 28, 2022 @09:01AM (#31191932)

Can you tell me an area where average house prices have doubled in the last 5 years? I can't think of one. Most expensive areas have gone sideways since Brexit, and risen a bit since the pandemic. Most cheap areas have grown slowly since Brexit.

https://www.bloomberg.com/graphics/property-prices/london/ shows the median as having gone up around 6% in total since 2017. Trying a mix of neighbourhoods in that tool, I can't see any which are close to 100% up.

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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by nly on Friday April 29, 2022 @04:26PM (#31210206)

Me and my partner are looking for a house in zone 3-4 right now, and I can tell you that every single home we've looked at is on for an asking price (and they're selling) of between 50-100% more than they last sold for 5 years ago.

We looked at a home that sold for £415K in 2017 for example and we were outbid. It went for 865K

Flats aren't so hot, that's for sure, but there's been masses of price growth over the last 5 years on houses. There's a stunning lack of stock on the market.

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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by thiago_fm on Thursday April 28, 2022 @12:58PM (#31194965)

Berlin prices has been growing at crazy speeds, it might have doubled the last 5 years. Even with a lot government intervention(rent raises cap etc).

The situation is so bad that there isn't even housing stock available. You are generally better off moving out or buying whatever you can.

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