“Human sacrifice, dogs and cats living together... mass hysteria!” So goes Bill Murray’s famous line from Ghostbustersas he describes the disaster the city of New York is heading towards. It also happens to describe the reaction many people had to Quicken Loans “Rocket Mortgage” Super Bowl ad.
A narrator opens the ad asking, “What if we did for mortgages what the Internet did for buying music and plane tickets and shoes?” The commercial goes on to show how if buying a home were easier, more people would do it, causing those people to buy more household goods, which would create more jobs, which would allow more people to buy homes. Round and round we go.
But this has some people wondering, has Quicken Loans completely forgotten about the financial meltdown that happened less than a decade ago? Some individuals on Twitter wrote posts such as “It’s like the housing bubble never happened!” and “The last time mortgages were this easy there was some sort of global meltdown, right?”
But Quicken hasn’t forgotten the past. In fact, Quicken avoided most of the subprime products that crippled the economy in 2007, making it one of the only large nonbank lenders to survive the crisis.
As Quicken Loan’s chief executive said, “What we’re saying is that a strong housing market filled with responsible homeowners is important to the economy.”