Economists worry that the end of the home buyers’ tax credit will curtail housing demand, pulling prices down with it. The focus on the credit, however, may miss key points about the outlook for home demand and prices. The future of home buying will rely less on real-estate fundamentals and more on how consumers view job prospects. Until the labor market perks up, lifting paychecks along with it, households will remain reluctant or unable to take on a long-term mortgage.
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Quicken Loans has become the largest mortgage lender in the country over the last few years due in large part to the growth of Rocket Mortgage, the company’s digital mortgage platform. As it turns out, Rocket Mortgage is becoming so big that it’s now consuming other parts of the Quicken Loans family of companies too, namely the company’s reverse mortgage lender.
Realogy will be renaming NRT, the business unit that includes Corcoran Group, Sotheby’s International Realty and Coldwell Banker.