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.