Homeowners With Equity Influence Renters To Buy

Dated: May 20 2019

Views: 225

It's hard not to be influenced by your family and friends. After all, their opinions hold more weight because you trust them. When someone you love recommends something, you're probably more likely to consider it than had you heard it from another source. It doesn't matter if it's a restaurant, a new movie, or a vacation destination, if a friend tells you it's good, you'll likely believe them. This is also true when deciding to buy a house. At a panel convened by the National Association of Realtors, Dr. Johannes Stroebel – an associate professor of finance at New York University – talked about why that is. According to Stroebel, a recent paper looked at how the positive experiences of people close to us can influence our decision to buy. The research showed that having a Facebook friend who experienced a 5 percent increase in their home's value over the past two years increased the probability that a current renter would purchase a home over the next two years. “Individuals do discuss property value with their friends, and this changes behavior,” Stroebel said. In short, if you have a friend who's seen their home's value rise, you're more likely to believe buying a house is a good investment. More here.

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Rick Skogg

GreenBayRealEstate.com was created to be a SAFE place for you to search and view real estate properties for sale throughout Northeastern Wisconsin. Most real estate portals are designed to capture yo....

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Homeowners With Equity Influence Renters To Buy

It's hard not to be influenced by your family and friends. After all, their opinions hold more weight because you trust them. When someone you love recommends something, you're probably more likely

Read More