Blog Post

“FOMO” in the real estate market

Kristi Wong • May 13, 2016

It seems that fear of missing out, or “FOMO” as it’s referred to online, is spurring younger buyers to make the decision to get into the housing market. “A recent survey from Toronto-Dominion Bank found that 19 per cent of Toronto and Vancouver home owners mentioned a fear of missing out – FOMO, as it’s […] The post “FOMO” in the real estate market appeared first on Andy Schildhorn, PREC.

It seems that fear of missing out, or “FOMO” as it’s referred to online, is spurring younger buyers to make the decision to get into the housing market.

“A recent survey from Toronto-Dominion Bank found that 19 per cent of Toronto and Vancouver home owners mentioned a fear of missing out – FOMO, as it’s known on social media – as a top consideration in buying their first home. FOMO is a totally understandable emotion in our housing-obsessed society, and it’s justified by the fundamentals in the hottest markets. Guaranteed, we’re going to see more FOMO home buying. By necessity, a lot of it will only happen with parental financial help.”

For more: http://www.theglobeandmail.com/globe-investor/personal-finance/genymoney/fear-of-missing-out-leaves-millennials-taking-on-big-risk-in-housing-market/article29788572/

The post “FOMO” in the real estate market appeared first on Andy Schildhorn, PREC.

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