Thursday, February 11, 2016
The Super Bowl Ad That Set Off Economic Alarm Bells
http://www.nytimes.com/2016/02/10/upshot/the-super-bowl-ad-that-set-off-economic-alarm-bells.html?ref=economy
For 4th Period
1. What is your view on the "Rocket Mortgage" app? Should buying a house be as simple as a click of a button?
2. Do you think that people are overreacting to this ad?
3. Will more likely benefit of hurt the economy? How could this idea be modified/better executed?
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I don't think that buying a house should be that simple because it could lead to another recession if people could get the wrong impression. Also, I understand why economists have reacted to this app negatively, but I personally believe that the ad itself wasn't as unique as other Super Bowl commercials. People would be more likely to buy the app if its from a company that's well known than if it's a start-up company. Although Rocket Mortgage's concept seems like a good idea, I don't think a lot of people would buy into it right away even though it found its way on the list of Super Bowl ads.
ReplyDeleteI feel somewhat skeptical of this app as I feel it may require more than just a simply click as buying a house is a tremendous commitment and process. I do see why people are overreacting to this ad as I feel like people may think that this idea is creative, yet, I do not believe it would attract more customers than usual. I think this is not a very good idea as it is kind of promoting the situation that resulted in the 2008 financial crisis.
ReplyDeleteI do not feel like the app will contribute to success because buying a house has several steps into it. If they get a mortgage through the app they wouldn't know if they are able to afford it. It may lead people into debt. It may attract more customers but I rather have paperwork and getting well informed in what I am getting into rather than buying it with just one click not knowing much about it.
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