How Facebook Knows The Price Of Your Home

Posted: May 30 2016, 6:22am CDT | by , in News | Latest Business News

 

This story may contain affiliate links.

How Facebook Knows the Price of Your Home

Don't Miss: This How to find Fingerlings in Stock

Social networking platforms like Facebook can not only get you more likes, it can also influence the price of your home if you intend to sell one, say researchers.

House prices rise can spread through social networks like a virus and your Facebook friends can have too much of an influence on what one pays for a house.

According to researchers from the US National Bureau of Economic Research, people whose friends are experiencing house price rises were willing to pay more for a house.

The study, done by Facebook economist Michael Bailey, Harvard University's Ruiqing Cao and Johannes Stroebel and Theresa Kuchler from New York University's Stern School of Business, combined Facebook survey data with public record information on housing transactions.

They looked at friends who were "geographically distant" and their social networks to find the effects, nzherald.co.nz reported.

"If people's far-off friends were from places where house prices rose by five percent stronger than expected in the last two years, they were more likely to buy a house by 3.1 percent, bought a house 1.7 percent larger and paid 3.3 percent more for a given house," the findings showed.

The sample was enormous, matching "more than 520,000 housing transactions in Los Angeles county since 1993 to the Facebook account of the respective home buyer".

Also, individuals whose friends experienced larger recent house price increases were more optimistic about property investments, the study added.

Holiday Gift Guides and Deals

Get your Holiday gifting inspired by Best Toy Gifts with High STEM Value and the Top 10 toy gifts under $10 if you are on budget. The most popular Holiday 2017 toy list include Fingerlings, Crate Creatures and more. Don't miss the new Holiday deals on Amazon Devices, including $29.99 Fire tablet.

This story may contain affiliate links.

This free App Solves You Holiday Shopping Problem


Download the free Tracker app now to get in-stock alerts on Fingerling, Luvabella, SNES Classic and more.

Latest News

Comments

The Author

<a href="/latest_stories/all/all/59" rel="author">IANS</a>
The Indo-Asian News Service (IANS) was established in 1986, initially to serve as an information bridge between India and its thriving Diaspora in North America. Now IANS is a full-fledged wire agency, putting out news 24x7 from around the world.

 

 

Advertisement

comments powered by Disqus