The stress of buying a home is getting Americans very emotional, according to a new survey.
The survey, released today by Zillow, finds that 50% of homebuyers cried during the process of buying a home.
"Gen Zers and millennials — many of whom are first-time home buyers – [are] far more likely to cry at least once during their home-buying journey," Zillow stated in a press release. "More than 65% of Gen Z buyers and 61% of millennial buyers cried at least once when going through the process of purchasing their home."
The emotional toll of the buying process is being attributed to the competition that has been present in the market for years and the very low inventory of homes on the market.
"Some buyers planning to finance their purchase with a home loan are losing out to others who are able to pay entirely in cash, which is seen as a more attractive offer to a seller, since they don’t need to worry about the sale falling through in the financing stage. According to Zillow’s survey, nearly 30% of recent buyers said they lost to an all-cash buyer at least once."
This article originally published at https://dc.urbanturf.com/articles/blog/the-homebuying-process-is-bringing-americans-to-tears/19715.
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