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The Hidden Stress of the Millennial Buyer
It was 11PM the night before a closing, a lovely condo in Providence’s College Hill. SRCI agent Heatheran Kristopher knew the call would be bad when she picked up the phone. “I can’t buy the condo,” the woman said. “My husband swears he will divorce me if I buy it.”
Sellers deal with this more often than you may think – buyers getting cold feet for one reason or another. Real Estate purchases are a minefield of emotions – it is no surprise that most real estate agents joke about their “therapist” alter egos.
But is the pressure and emotional stress of transactions effecting the newest generation of millennial home buyers differently and perhaps more egregiously then older generations?I recently heard of a transaction where the buyer, a 20-something young professional, quietly, without any warning to the other parties involved, suffered from a nervous breakdown just prior to the closing. This type of situation was new ground for me, and the story got me ruminating on the contrasts between Heatheran’s baby-boomer client and the millennial.
We all know that the younger generation has been raised in a data driven environment. Young homebuyers today tend to make well informed, deliberate choices. They are likely to have been ... more
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