Mortgage professionals everywhere must recognize the influence of social media on their customer’s actions. With the rise of networks such as Instagram, Twitter, and Tik Tok, people are exposed to homes that they may not have otherwise seen. Unfortunately, this can often lead to a sense of housing envy, with people wanting a home that may be out of reach financially.
It’s important to be aware of the emotions that are experienced by potential mortgage borrowers, as their emotions can largely support or hinder their ability to achieve the American Dream. With many people constantly exposed to other people’s lives through social media, the chance of depressing feelings of envy is heightened. As such, mortgage professionals should take the necessary steps to recognize and address the effects of housing envy to help clients reach their goals.
• Impact of Social Media – With the rise of online social networks, people are being exposed to homes they may not have otherwise seen.
• Housing Envy – This can lead to a sense of envy for a home that may not be financially attainable
• Effect – It’s important to consider the emotions that come with these expressions of envy as they can have an influence in a borrower’s path to achieving their American Dream
• Responsibility – Mortgage professionals should take the necessary steps to recognize and address the effects of housing envy to help clients reach their goals.
You can read this full article at: https://www.housingwire.com/articles/report-home-envy-is-reshaping-the-american-dream/(subscription required)
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