Share this article!

The concept of keeping up with the Joneses has a new digital twist as most younger Americans go online to spy on the value of their friends’ homes.

According to a new survey by Mphasis Digital Risk of 1,386 adults ages 46 and younger, the majority (66%) acknowledged they “routinely” research the value of homes belonging to friends and acquaintances. But rather than be happy for their friends’ success, 79% of the survey’s respondents said their snooping left them feeling stressed, concerned or upset – which is a bit disturbing since 74% of the respondents indicated they currently own a home.

And why are these people spying on their friends? The primary reason respondents gave for checking home prices through online searches was to use the search as a “benchmark to measure [their] own income and worth” (59%), while others are trying to get “a sense of their [friends’] income” (42%).

“For the 80% of Gen Z and millennials stressed by viewing home prices of friends and acquaintances online, they should remember that lenders don’t benchmark borrowers against others to qualify for a home loan,” said Jeff Taylor, founder and managing director of Mphasis Digital Risk. “They use the borrower’s profile, and you would be surprised how much a borrower can afford. Even with interest rates entering the Summer of 2023 higher at near 7%, millions of people qualify to buy median-priced homes with as little as 5% down.”

Booking.com

 

Reset password

Enter your email address and we will send you a link to change your password.

Get started with your account

to save your favorite homes and more

Sign up with email

Get started with your account

to save your favorite homes and more

By clicking the «SIGN UP» button you agree to the Terms of Use and Privacy Policy

Create an agent account

Manage your listings, profile and more

By clicking the «SIGN UP» button you agree to the Terms of Use and Privacy Policy

Create an agent account

Manage your listings, profile and more

Sign up with email