Factors Affecting The Decision Of Home Buying Of Millenial During The Covid-19 Pandemic

The purchase decision of buying a house or property is still considered important for young people. This paper aims to examine the factors related to purchase decision in buying a house during the pandemic Covid-19 that now has been lasted for almost one year. We considered feng shui factors as one of the important reasoning because the Chinese belief for the position and direction of the house will impact the occupants. Another variable are brand reputation and financial aspects. We run the data with regression to identify the relation and magnitude of independent to dependent which is property purchase decision. We focus on millennials cohort because they are the driver in the workforce and hit by the pandemic condition. Our sample consists of 112 of millennials that lived in Jakarta greater area.

Student loan debt and first-time home buying in USA

Purpose This paper aims to examine the relationship between student loan debt and first-time home buying among college graduates aged 23 to 40 years old in the USA. Design/methodology/approach The authors use the Federal Reserve’s 2019 Survey of Consumer Finances data on American households to present descriptive statistics and run logistic regressions that measure the effects of student loan debt on first-time home buying. The authors also present original survey data of mortgage lenders that provides an industry-level perspective. Findings The authors find that having student loan debt does not by itself prohibit first-time home buyers. On the contrary, having student loan debt increases the likelihood of homeownership by 15.1%. People with student loan debt, however, buy homes that are 39.2% less expensive and have 58% less home equity compared to first-time home buyers without student loans. In addition, it is found that the amount of student loan debt is important. People with student loan debt above the median amount among people with student loan debt ($35,000) are 27% less likely to be first-time home buyers. Practical implications This paper provides public policy analysts and other researchers a different perspective on the correlation between student loan debt and home buying. This study focuses narrowly on first-time home buyers who are college graduates between 23 and 40 years. Thus, capturing the youngest cohort of first-time home buyers and examine the primary factors that influence their home buying decisions. Originality/value First-time homebuyers are historically the largest segment of home buyers making them an important subcategory to study. The rise in student loan debt is posited to explain declining homeownership among younger people. The current literature on student loan debt and home buying often studies samples that are too heterogeneous resulting in mixed findings. This paper adds to the existing literature by filtering the sample to study the effects of student loan debt and first-time home buying among people with at least a college degree who are between 23 and 40 years.

Poorer middle class is a constraint on Russian growth

Significance One study suggests that 1.5 million middle-class people lost their jobs in 2020. Despite government assistance programmes to keep employees in work and ease home-buying, the middle class's role as driver of consumption has been hard hit, with implications for the pace of economic recovery. Impacts Nationwide vaccination will facilitate a return to growth, but this will be constrained by low consumption. Rising financial insecurity and disillusionment will fuel middle-class emigration. Declining ability to give children a good education will limit future expansion of the middle class.

Delivery mechanism on homeownership education among millennials in Kuala Lumpur

Purpose Millennials are considered the best group to intervene in terms of homeownership education as they are of working age and can earn monthly income. However, there is a concern about the affordability of millennials to purchase a house that will influence their decision in terms of purchasing a house. Further understanding of the home-buying process allows millennials to avoid dishonest and irresponsible sellers, as purchasing a house involves a large sum of money. The purpose of this study is to suggest a suitable delivery mechanism to increase awareness of the home-buying process among millennials in Kuala Lumpur. Design/methodology/approach This study adopts a quantitative method to analyse sets of questionnaire survey that were distributed at purposive random sampling in Kuala Lumpur. This study approached respondents with pre-set criteria, which include the respondents to be between 18 and 38 years old, interested to purchase a house and to have at least an initiatory understanding of the home-buying process. Findings The findings suggested that there is considerably low awareness of the home-buying process among millennials. However, it is important to note that among the home-buying process, millennials are most aware in the preliminary phase, which is information gathering. Based on these findings, the best delivery mechanism to increase awareness is through online games and training courses, followed by home counselling at a local housing agency. Practical implications This study contributes to government agencies and policymakers to interact with society, as education is one of the best methods. It will further enhance their efforts to ensure that the society is well equipped with useful knowledge to avoid the rueful decision of purchasing their first house. Originality/value This paper highlights homeownership education by tackling the issue of extensive knowledge of the home-buying process. This is crucial to the foundation of homeownership education, as it reflects the efforts of government agencies and policymakers to ensure homebuyers’ rights are protected in the housing market. This paper will benefit not only policymakers and decision-makers but also first time homebuyers.

“Home-buying behaviour model of Generation Y in Turkey”

Purpose The young population in Turkey is gradually increasing. Generation Y, which comprises the people born between 1980 and 1999 (Broadbridge et al., 2007) and free-spirited and tech-savvy, forms a large part of the population of the world, especially Turkey, and is of great importance to the housing sector for their home-buying preferences. In this study, housing preferences of students in Turkey’s two socio-economically different universities were comparatively analysed through quantitative methods. Design/methodology/approach A survey was simultaneously distributed among students of two universities. The survey consists of six main factors: “reliability”, “economic opportunities”, “transportation opportunities”, “quality of life and social opportunities”, “quality standards”, and “technological opportunities”, with 25 statements. The questionnaire was developed through a comprehensive literature review and the opinions of university stakeholders. Findings Results showed that the structure of the family and socio-economic differences affect home-buying preferences. The Mann–Whitney U test indicated that there was a meaningful difference of opinion between students of two universities. Munzur University students paid attention to economic opportunities when buying a home. Additionally, there was a meaningful relationship among the age groups in factors of “having a parking place” (p = 0.026) and “having a playground” (p = 0.026). As the age increases, students desire a playground around their future home. Research limitations/implications The most important limitation of this study is the non-parametric data. Non-parametric data structure and the tests performed accordingly are less preferred than parametric data structure. For that reason, to what extent the results accurately represent Generation Y needs to be assessed through future study. Also, a certain number of sampling could be reached as purposive sampling was used. Originality/value This study contributes to the literature in terms of comparatively analysing buying preferences of Generation Y through statistical methods and showing the relationship between these preferences and socio-economic features statistically. Due to the insufficient quantitative research on the literature, this quantitative study was carried future home-buying preferences of Generation Y university students, who will also be actively involved in the housing market. The purpose of this study investigates marketing factors that affect housing preferences of students in Turkey.