Young adults’ socialization in housing and real estate purchase decisions in India

Purpose - The purpose of this paper is to understand the influence of young adults’ socialization and product involvement on family housing and real estate purchase decision-making process. While previous studies have used these constructs in the fast-moving commercial goods category, this paper is considering the real estate family purchase decision as the core point of research and analysis. Design/methodology/approach - Data were collected from 429 young working adults across various sectors in India. The proposed conceptual framework is tested using structural equation modeling. Findings - The findings suggest that the teenagers with high social life have a better say in the decision-making process. It was also found that the young adults’ product involvement (measured in terms of gratification and symbol) construct shows how involved they are with the final decision-making in a family. The results suggested that the more young adult socializes, the more voice he has in the family housing and real estate decision-making process. Originality/value - This paper is the first to analyze the role of teenage socialization and product involvement on family housing and real estate purchase decision-making process. This paper will be practicable to all the stakeholders of the housing industry as a whole.