Rising homebuyer ages and affordability crises stem less from wage stagnation than from asset price inflation, which benefits existing owners while excluding younger generations. Despite high traffic, real estate platforms struggle with monetization due to fragmented customer journeys and low purchase intent. Rocket Mortgage is redefining its role—not just as a lender but as a vertically integrated homeownership platform—by acquiring key players like Redfin and Mr. Cooper to unify search, financing, and servicing. Their strategy hinges on long-term customer value, leveraging AI and data to streamline processes across a historically disjointed industry. Modular construction and new ownership models offer future supply solutions, but nimbyism and regulatory barriers remain critical bottlenecks. Unlike Silicon Valley’s focus on daily-use apps, Rocket proves that infrequent yet high-value transactions can drive massive profitability when managed holistically. The ultimate goal: turn the once-in-a-lifetime homebuying event into an ongoing, seamless relationship.