Is Rocket Mortgage CFO Brian Brown Blowing Smoke To Make Rocket Mortgage Look More Profitable Than It Is?
Rocket Mortgage CFO Brian Brown says first-time homebuyers will drive the housing market in 2023.
Brown made his prediction during a one-on-one conversation with Fitch Ratings Director Shampa Bhattacharya. Brown speculated that first-time home buyers will drive purchase volume in 2023. Why? He believes that first-time home buyers will actually benefit from the 5% dip in sales prices.
Brown told Bhattacharya that Rocket is banking on a continual deterioration in the non-bank sector.
The Rocket CFO also stated that he expects the industry to generate $1.7 to $1.9 trillion in 2023.