REALTORMag
Facebook friends can be a powerful motivator when it comes to home ownership, according to a report by the National Bureau of Economic Research. Researchers found that Facebook users whose friends had a positive home ownership experience are more likely to be influenced to buy a home of their own.
Consumers who had online networks post about their home values rising more than 5 percent over the past two years, for example, are 3.1 percent more likely to buy a home over the next two years, researchers found. What’s more, they are 1.7 percent more likely to purchase a bigger home, 3.1 percent more likely to pay a higher price for it, and 7 percent more likely to make a larger down payment.
Continued:
