The Property Brothers, Jonathan and Drew Scott, talk about the study in conjunction with Chase Home Lending and Google called “Search for Home Snapshot.”
NEW YORK — The Property Brothers, highly successful HGTV home renovation show hosts, returned to New York to talk about homeownership and opportunities for first-time buyers.
From 2015 to 2016, the brothers, Drew and Jonathan Scott, filmed two seasons of their shows — Buying & Selling and Property Brothers — in the New York City suburbs of Westchester and Rockland counties, where Zillow said the median home value for each county was $566,300 and $418,300 as of June. Across the USA for the same period the median home value, where half the dwellings are less expensive and half are more, was $199,200.
“There’s a lot of people who make a lot of money in real estate,” said Jonathan Scott, one of the identical-twin TV stars. “But there’s also a lot of people who lose a lot of money because they don’t know what they are doing.”
The Scotts were featured guests Friday for a panel discussion at Google headquarters in Manhattan.
The event, sponsored by Chase Home Lending and Google, also was an occasion for the two companies to release a summary of their collaborative study, Search for Homes Snapshot.
The study indicated that millennials, a loosely defined generation that begins around 1981 but spans until 1997 or 2004 depending on which demographer is cited, are becoming more interested in owning homes: In 2016, 44% of Google searches related to the term “mortgage” was about first-time buyer mortgages, up by 11% from 2015. Previously, they have been slow to enter the housing market because of student debt and career setbacks related to the recession.
The trend is reflected on Chase’s mortgage business as well: Customers younger than 35 accounted for 36% of the bank’s new mortgages in 2016, up by 16% from the year before.
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