In recent years, Millennials have made their long-awaited entry into
the housing market. As the first generation to grow up in the digital age, they
approach house hunting very differently from previous generations. Millennials
are wealthier, less rooted, more tech-savvy and more demanding than generations
that came before. Their entry into the housing market will put many established
practices to the test.
Millennials are the first generation to grow up in the Internet Age, meaning
there is little distinction between the off- and online for them. For
Millennials, these worlds are naturally woven into every facet of their lives.
They maintain friendships via Facebook, find jobs via LinkedIn, share travel
experiences on Instagram and find love via Tinder. With their entry into the
housing market, Millennials project their app-driven reality onto the mortgage
process, a development that Hyarchis outlines by
means of the five trends identified in their new ‘Defining
Mortgage Tech’ report.