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Migration Letters
Volume: 21, No: S1 (2024), pp. 1013-1023
ISSN: 1741-8984 (Print) ISSN: 1741-8992 (Online)
www.migrationletters.com
Exploring the Severity of Factors Influencing Lifestyle on Housing
Preference of Young Adults: A Thematic Analysis
Dr. SR. Rameshkkumar
1
, Dr. Puja Gope
2
, Dr. R. Santhosh
3
, Dr. Ninad Murlidhar
Gawande
4
, M. M. Vishnu
5
, Dr. S. Umamaheswari
6
Abstract:
The study aims to assess the severity and impact of various factors influencing the lifestyle
on the housing preferences of young adults. Through a comprehensive examination of
financial considerations, location preferences, lifestyle choices, and socio-cultural factors,
the researcher seeks to quantify the relative importance of each element in shaping the
housing decisions of this demographic. By analyzing survey data, interviews, and
demographic information. The study will also explore the dynamic nature of these
influences, considering how life stages, technological advancements, and environmental
concerns amplify or mitigate their effects. The findings from this research will offer
valuable insights for policymakers, real estate developers, and urban planners to better
cater to the diverse and evolving needs of young adults in the housing market. As the most
accessible and accurate surrogate for a consumer's choice to buy, preference research is
vital. Many scholars from different countries have looked into housing preferences, utilizing
different approaches and different definitions of the term "preference" to guide their studies.
Many young people struggle to get a home because of housing shortages and financial
difficulties, putting them at a disadvantage when competing with older generations.
Research has shown that young people throughout the globe place a premium on being able
to move freely about their homes. Nevertheless, it is very difficult to generalize about young
people's housing preferences since they differ greatly between contexts.
Keywords: Technology and Connectivity, Social Relationships, Accessibility,
Environmental Sustainability, Cultural Factors and Life Stage and Future Plans.
Introduction:
The housing demand is defined by households using choice criteria. Numerous scholars
from various fields have examined housing choice from various theoretical vantage points.
The primary concern of economists, for example, is the cost of housing and how this factor
influences the decision to purchase vs rent [9]. It is essential that housing meets certain
standards in order to ensure the residents' comfort, safety, contentment, enjoyment, and
convenience. So, it's one of the fundamental social factors that determine the level of living
1
Associate Professor, Department of MBA, Sanjivani Institute of Management Studies, Kopargaon, Ahmednagar,
Maharashtra
2
Assistant Professor, Department Of MBA, Kashi Institute Of Technology, Mirzamurad,Varanasi, Uttar pradesh
3
Associate professor of Economics, University College, Trivandrum, Kerala, India.
4
Assistant Professor, Department of Management, Vishwakarma University, Kondhwa, Pune.
5
Assistant Professor, Department of Commerce, Rathinam College of Arts & Science (Autonomous), Coimbatore, Tamil
Nadu
6
Associate Professor, Department of Management Studies, AJK College of Arts and Science. Coimbatore.
1014 Exploring the Severity of Factors Influencing Lifestyle on Housing Preference of Young Adults:
A Thematic Analysis
in a nation. Less spending on health care, crime prevention, leisure, and pollution means
more money for residents and the government to invest in housing, which in turn means
more production and prosperity. Nevertheless, housing supply has consistently fallen short
of demand owing to the fast rates of urbanization observed globally [15]. Housing delivery
may be sustained by investigating why families pay or pick housing costs; this, in turn, can
assist to remove or minimize artificial constraints and avoid housing desertion. New
insights into tackling the problems of housing shortages and poor distribution may be
gained by gaining a good grasp of the families' decision [6]. Studies have shown that unsold
homes and abandoned dwellings are due to choice, while there are other variables
responsible for the inadequate delivery of affordable housing. Research in sociology and
geography focuses on housing distribution in a particular population as well as on the
housing decisions made by individual families. They focus emphasis on the housing
market's influence over demographics and socioeconomic status as well as dwelling and
neighborhood characteristics. Although the need for inexpensive housing has mostly been
measured in monetary terms, the problems surrounding affordable housing have expanded
beyond just economic themes to include broader issues of social welfare and long-term
viability. It is unusual, nevertheless, to discuss the need for affordable housing within the
context of sustainability [3]. Additional research on the variables that influence people's
housing decisions should, according to Sirgy et al., make use of comprehensive criteria,
such as socio-psychological elements. Few studies have looked at home choice via a
sustainability lens; most of them have focused on other factors, such as lifestyle and
uncertainty. While environmental considerations are often overlooked in literature on
housing choice, they may be included when sustainability is included into the idea of
housing choice [7].
Background and Literature Review
The notion of preference is often confused with choice, and vice versa. While the two
notions have certain similarities, they are not exactly the same [5]. Molin's statement
originates from rational choice theory, which posits rationality in the decision-making
process of humans [17]. The word 'rationality' in the theory is a comprehensive notion that
is extensively used in several disciplines of research to elucidate an individual's behaviour
based on the premise of rationality. However, the definition of rationality varies across
many academic disciplines. According to classical economics, rationality is synonymous
with substantive rationality. Substantive rationality asserts that an economic actor have a
specific objective to maximise their own advantage, hence making them substantively
rational. Therefore, the result of the economic actor's decision is always logical, aiming to
maximize their gains. As a result, economists often link quantitative computations with
analysis [12]. Conversely, rationality is defined as procedural rationality in the context of
social science. Substantive rationality concerns itself with the end result of a decision, while
procedural rationality concentrates on the decision-making process itself, seeking to
comprehend the logic behind people's choices. Decision-making necessitates individuals to
consider several elements simultaneously. However, due to the limited capacity of the
human brain, only a small number of individuals are capable of effectively processing all
the necessary information in order to maximize their enjoyment. Consequently, individuals
often limit the amount of things they examine simultaneously in order to make logical
judgments, even when this may lead to suboptimal outcomes [6]. This perspective diverges
from the rationality often advocated by economists, instead emphasizing a more pragmatic
and realistic approach that takes into account the limitations of human beings' constrained
rationality. Given the many issues associated with both preference models, researchers
engage in ongoing debates on the most appropriate form of preference to use for accurately
assessing housing desire [2]. The use of revealed preference has faced criticism for its
limited statistical validity, mostly owing to the potential presence of co-linearity and
erroneous assumptions when analysing historical data. Furthermore, revealed choice
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captures past preferences that may not accurately reflect modern market dynamics.
Therefore, it fails to provide guidance on how to include novel housing features that are
not yet available on the market [13].
Figure: 1
Framework for Sustainable Affordable Housing Choice
Source: https://www.google.com/url
Location, Accessibility, and Proximity: The Heart of Preference
The housing preferences of young adults are shaped by a myriad of attributes that reflect
their evolving lifestyles, aspirations, and the changing dynamics of contemporary living.
This essay delves into the key attributes that hold heightened significance for young adults
when selecting their ideal living spaces. From location and amenities to sustainability and
community, these attributes collectively contribute to a nuanced understanding of what
young adults prioritize in their housing choices. The location remains a paramount attribute
that significantly influences the housing preferences of young adults. Proximity to
workplaces, educational institutions, and public transportation hubs holds a heightened
appeal. Young adults, often characterized by busy schedules and dynamic lifestyles, place
a premium on locations that offer convenience and easy accessibility. Living in close
proximity to their workplace or educational institution not only reduces commute times but
also aligns with the desire for a seamless integration of personal and professional spheres.
Accessibility to social amenities such as shopping centers, entertainment hubs, and
recreational spaces is another aspect that elevates the appeal of a particular location. The
preference for vibrant neighborhoods that provide a rich tapestry of experiences reflects the
sociable and experiential nature of young adults.
Amenities and Technological Integration: The Modern Living Experience
The amenities offered by a housing facility are pivotal in attracting young adults. High-
speed internet, smart home features, and energy-efficient technologies have become
integral components of preferred housing options. The desire for technologically integrated
living spaces aligns with the tech-savvy nature of young adults, who seek the convenience
and efficiency offered by these innovations. Gyms, co-working spaces, and communal
areas for socializing are amenities that resonate well with the health-conscious and socially
1016 Exploring the Severity of Factors Influencing Lifestyle on Housing Preference of Young Adults:
A Thematic Analysis
connected preferences of young adults. The inclusion of such facilities transforms housing
into a holistic living experience, catering to the multifaceted needs of this demographic.
Sustainability and Environmental Consciousness: A Growing Imperative
The attribute of sustainability has emerged as a key consideration for young adults when
choosing their homes. An increasing awareness of environmental issues and a desire to
contribute to a greener future drive the preference for eco-friendly housing options.
Features such as energy-efficient appliances, green building materials, and sustainable
landscaping contribute to the appeal of a housing option for environmentally-conscious
young adults. Sustainable living is not merely a trend but a core value for many in this
demographic. The emphasis on reducing carbon footprints and living in harmony with the
environment shapes the choices of young adults who actively seek housing options that
align with their commitment to sustainability.
Affordability and Financial Considerations: Balancing Aspirations with Realities
While inspirational features and amenities play a crucial role, affordability remains a
fundamental attribute that influences the housing preferences of young adults. Many in this
demographic are navigating the early stages of their careers, facing student loan debts, and
managing living expenses on a budget. Affordability encompasses not only the rent or
mortgage but also associated costs such as utilities, maintenance, and property taxes.The
desire for a balance between quality and cost often leads young adults to explore
alternatives such as co-living arrangements, shared housing, or seeking out emerging
neighborhoods with more reasonable pricing. Affordability, therefore, serves as a pragmatic
attribute that grounds housing preferences in the financial realities of young adulthood.
Community and Social Dynamics: A Sense of Belonging
The attribute of community holds a distinct importance for young adults seeking housing
options. The desire for a sense of belonging and social connection prompts the preference
for communities that foster interaction and shared experiences. Gated communities, co-
living spaces, and developments with communal areas for events and gatherings align with
the communal and socially-oriented nature of young adults. Inclusivity and diversity are
also crucial aspects of community preference. Young adults often seek neighborhoods that
reflect a mix of cultures, ages, and backgrounds, contributing to a dynamic and enriching
social environment.
Flexibility and Future-Proofing: Adapting to Dynamic Lifestyles
Flexibility is an attribute that resonates strongly with young adults navigating the
uncertainties of the modern world. Housing options that offer flexibility in lease terms,
work-from-home arrangements, and adaptability to changing life stages hold heightened
appeal. The dynamic nature of careers and personal lives prompts young adults to seek
housing options that can accommodate their evolving needs and preferences. Future-
proofing, in terms of infrastructure and technological readiness, is also a consideration.
Young adults are inclined towards housing options that demonstrate an understanding of
evolving trends and can seamlessly integrate new technologies as they emerge.
Crafting Tailored Living Spaces for Young Adults
The housing preferences of young adults are a reflection of their dynamic lifestyles,
aspirations, and the values they hold dear. Location, amenities, sustainability, affordability,
community, and flexibility collectively shape the attributes that young adults prioritize in
their quest for an ideal living space. As the demographic continues to redefine societal
norms and expectations, housing developers, policymakers, and urban planners have the
opportunity to create tailored living spaces that resonate with the evolving needs of young
adults. By understanding and incorporating these key attributes, the housing market can
cater to the diverse and dynamic preferences of this demographic, contributing to the
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creation of thriving and inclusive communities for the next generation of homeowners and
renters.
Technological Integration in Housing: A Paradigm Shift
In the contemporary landscape of housing preferences, the integration of technology and
connectivity has emerged as a defining factor, shaping the choices of young adults in their
quest for an ideal living environment. This paradigm shift is not merely a reflection of a
desire for modernity but an inherent need for convenience, efficiency, and a seamless blend
of technology into daily life. The essay explores the multifaceted influence of technology
and connectivity on housing preferences, with a specific focus on the burgeoning interest
in smart home features among young adults. The advent of the digital age has brought about
a significant transformation in the way individuals interact with their living spaces. Young
adults, often considered the early adopters of technology, are at the forefront of embracing
innovations that promise to enhance the quality of their lives. Consequently, technology is
no longer confined to personal devices but has permeated the very fabric of our homes. One
of the primary ways technology influences housing preferences is through the promise of
seamless connectivity. Young adults, characterized by a generation raised in an era of
constant connectivity, seek homes equipped with robust internet infrastructure. The ability
to stay connected at all times, for work, social interactions, and entertainment, is now a
non-negotiable aspect of their lifestyle. The demand for high-speed internet has become
synonymous with the quest for an ideal living space. From remote work capabilities to
streaming services and smart home functionalities, a reliable and fast internet connection
is a fundamental consideration for young adults when choosing a place to live. As such,
housing preferences are increasingly tethered to the digital infrastructure available in a
given location. Beyond the fundamental need for connectivity, smart home features have
emerged as a defining aspect of contemporary housing preferences. The concept of a smart
home involves the integration of technology to automate and enhance various aspects of
daily living. Young adults, who are often early adopters of smart devices, express a growing
preference for homes equipped with these intelligent features. The allure of smart home
features lies in their ability to streamline tasks, enhance security, and contribute to energy
efficiency. Home automation systems, including smart thermostats, lighting controls, and
security systems, allow for remote management through mobile devices. This not only
offers convenience but also aligns with the tech-savvy lifestyle embraced by many young
adults.
Preferences for Smart Home Features
i. Convenience and Efficiency: The cornerstone of the appeal of smart home features
lies in the convenience they bring to daily life. Young adults, often juggling demanding
careers and social commitments, appreciate the ability to control various aspects of their
homes with a few taps on their smart phones. From adjusting the thermostat to controlling
lighting and monitoring security cameras, these features provide a level of control that
aligns with the fast-paced nature of modern living.
ii. Security and Peace of Mind: Security is a paramount concern for individuals
choosing a place to live. Smart home security systems, equipped with features such as real-
time surveillance, motion detection, and smart locks, provide an added layer of protection.
For young adults who may spend significant time away from home, these features offer
peace of mind and a sense of control over their living environment.
iii. Energy Efficiency and Sustainability: As environmental consciousness becomes
increasingly prevalent, young adults express a growing interest in homes that incorporate
energy-efficient and sustainable features. Smart home technologies play a pivotal role in
this aspect by allowing residents to monitor and optimize energy usage. Smart thermostats,
for instance, can adapt to user preferences and optimize heating or cooling, contributing
not only to convenience but also to a reduced environmental footprint.
1018 Exploring the Severity of Factors Influencing Lifestyle on Housing Preference of Young Adults:
A Thematic Analysis
iv. Challenges and Considerations: While the integration of technology and smart
home features is met with enthusiasm, it also poses challenges and considerations that need
careful examination. Privacy concerns, the cost of implementing these technologies, and
the potential for technological obsolescence are all factors that warrant attention.
v. Privacy Concerns: The collection and utilization of personal data by smart home
devices raise valid privacy concerns. Young adults, cognizant of the potential
vulnerabilities associated with interconnected devices, may express reservations about
adopting certain smart home features. Balancing the benefits of technology with the need
for data security and privacy becomes a critical aspect of addressing these concerns.
vi. Cost Implications: The implementation of smart home features often comes with a
financial investment. The initial cost of purchasing and installing these technologies, along
with potential maintenance expenses, may pose a barrier for some individuals.
Consequently, the financial aspect becomes a crucial consideration in the decision-making
process regarding the adoption of smart home features.
vii. Technological Obsolescence: The rapid pace of technological advancement
introduces the risk of devices becoming obsolete relatively quickly. Young adults, who are
typically attuned to the latest technological trends, may be hesitant to invest in smart home
features that could become outdated in a short span. This consideration highlights the
importance of future-proofing technology and ensuring compatibility with evolving
standards.
Statement of the problem
The current housing choices among young people include an intricate interaction of
lifestyle elements that need in-depth examination. As urbanization progresses, it becomes
crucial to comprehend the precise factors of lifestyle that have a substantial impact on the
housing preferences of young people. The growing variety of professional options, together
with the changing technology environment, leads to an investigation into the
interconnectedness of these elements and their influence on housing selections. Moreover,
the economic limitations experienced by several young individuals, along with evolving
cultural dynamics, need a thorough investigation of the ways in which these difficulties
impact their decisions about where to live. In light of the growing importance placed on
sustainability and environmental awareness, it is crucial to assess how eco-friendly factors
influence housing choices. This research aims to explore the intricate connection between
lifestyle and housing choices among young people, with the goal of filling the gaps in
knowledge and understanding. By doing so, it will provide valuable insights that may
contribute to the creation of housing solutions that are more adaptable and inclusive.
Research objectives
The objectives of the study on the lifestyle and housing preferences of young adults are:
i. To identify the lifestyle factors that significantly influences the housing preferences
of young adults.
ii. To assess the severity and impact of financial factors, such as income level and job
stability, on the housing decisions of young adults.
iii. To outline how technology and connectivity considerations influence the choice of
housing, including preferences for smart home features and energy-efficient technologies.
Research Methodology
The research belongs to the archive; its abstract serves as a literature evaluation on the
variables that influence housing preferences. Secondary sources, such as scholarly
publications, conference proceedings, articles, textbooks, and the internet, provided the
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data used in this research. In order to provide a new comprehensive indicator of the
purchase choice, this study compiled nine pertinent prior studies on the topic of home
purchase decisions. To further ensure that this indicator was appropriate for local cultures
or norms, local prior research articles were also consulted. The study is an empirical
research and is based on survey method. Samples of 200 respondents were collected using
simple random sampling method. Primary data were collected directly from the youth by
using a questionnaire with the help of interview schedule. The relevant secondary data is
has been collected from the periodicals.
Findings, presentation and Results
The housing preferences of young adults are influenced by a variety of factors, reflecting
their lifestyle choices, values, and socioeconomic circumstances. 12 elements are taken into
account to assess the severity of the issues that influence the lifestyle and housing
preferences of young adults. Factor analysis is used to decrease the amount of data. The
data's dependability is assessed using the KMO and Bartlett's Test. Here is the outcome.
Table 1: KMO and Bartlett's Test
Kaiser-Meyer-Olkin Measure of Sampling Adequacy.
0.878
Bartlett's Test of Sphericity
Approx. Chi-Square
2053.754
df
66
Sig.
0.000
The KMO test result indicates the data's reliability. The value, 0.878, exceeds 0.7.
Therefore, the data obtained from the selected participants is dependable. The Bartlett's
Test of Sphericity indicates that the data is statistically significant (p < 0.001). Therefore,
the data is used for further research using Factor analysis. The table below displays the
communalities of the 12 assertions used in the factor analysis.
Table 2: Communalities
Factors
Initial
Extraction
Financial Situation
1.000
0.508
Location
1.000
0.597
Lifestyle and Hobbies
1.000
0.675
Technology and Connectivity
1.000
0.543
Social Relationships
1.000
0.468
Accessibility
1.000
0.861
Environmental Sustainability
1.000
0.816
Cultural Factors
1.000
0.743
Life Stage and Future Plans
1.000
0.567
Education and Career Opportunities:
1.000
0.663
Market Conditions
1.000
0.681
Diversity Factors
1.000
0.509
The communalities for the elements used to measure satisfaction should ideally
range between 0.508 and 0.861 for optimal results. Since the values are about 0.5 or higher,
we will choose the 12 statements for further analysis in order to reduce the amount of data..
1020 Exploring the Severity of Factors Influencing Lifestyle on Housing Preference of Young Adults:
A Thematic Analysis
Income level and job stability play a crucial role in determining the type of housing young
adults can afford. Affordability of rent or mortgage payments influences decisions about
location, size, and amenities of the housing. Proximity to work, public transportation, and
social amenities can significantly influence housing choices. Preferences for urban,
suburban, or rural living may be shaped by lifestyle and the desire for convenience. Young
adults often prioritize housing options that align with their lifestyle, including proximity to
entertainment, nightlife, parks, or recreational areas. Preferences for certain neighborhoods
may be influenced by cultural or social activities they engage in
Table 3: Total Variance Explained
Component
Initial Eigen values
Extraction Sums of Squared
Loadings
Rotation Sums of Squared Loadings
Total
% of
Variance
Cumulative %
Total
% of
Variance
Cumulative %
Total
% of
Variance
Cumulative %
1
6.618
55.154
55.154
6.618
55.154
55.154
5.440
45.329
45.329
2
2.131
17.755
72.909
2.131
17.755
72.909
3.310
27.580
72.909
3
.832
6.934
79.843
4
.527
4.394
84.236
5
.480
4.001
88.238
6
.318
2.651
90.889
7
.288
2.402
93.291
8
.214
1.785
95.076
9
.193
1.609
96.685
10
.160
1.330
98.015
11
.122
1.017
99.031
12
.116
.969
100.000
Extraction Method: Principal Component Analysis.
By using principal component analysis, the 12 assertions are condensed into three
components, as shown by the Eigen values above 1. The cumulative variation accounted
for by these three components is 72.90%. Access to high-speed internet and technology
infrastructure is becoming increasingly important for young adults who may work remotely
or engage in online activities. Smart home features and energy-efficient technologies can
also be attractive to tech-savvy individuals. Proximity to family and friends can be a
significant factor, as well as the overall social environment of a neighborhood. Young adults
may also consider co-living arrangements or communal housing options to foster social
connections. A growing concern for environmental issues may influence housing
preferences, with some young adults seeking eco-friendly and sustainable living options.
Energy-efficient features, green spaces, and proximity to public transportation may be
prioritized. Preferences for housing may be influenced by cultural background and values,
including the desire to live in diverse and inclusive communities. Life events such as
marriage, starting a family, or career changes can impact housing preferences.
Consideration of long-term goals and future plans, such as buying a home versus renting,
may shape choices. Economic conditions, housing market trends, and the availability of
housing options can significantly impact decisions.
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Table 4: Rotated Component Matrix
Factors
Component
1
2
3
Financial Situation
.796
Location
.627
Lifestyle and Hobbies
.825
Technology and Connectivity
.772
Social Relationships
.867
Accessibility
.808
Environmental Sustainability
.888
Cultural Factors
.870
Life Stage and Future Plans
.817
Education and Career Opportunities:
.914
Market Conditions
.784
Diversity Factors
.899
The 12 statements of satisfaction are reduced into three as mentioned in the total variance
explained. Understanding the interplay of these factors can provide insights into the
housing preferences of young adults and help policymakers, real estate developers, and
urban planners cater to their needs. Education and career opportunities exert a profound
influence on the housing preferences of young adults. The proximity to educational
institutions and job centers plays a pivotal role in shaping their decisions. Many young
adults, especially those in the early stages of their careers, seek housing options that are
conveniently located near their workplace or educational institution. The desire for a short
commute and easy access to professional networking opportunities often guides their
choices. Additionally, the availability of quality schools, colleges, and vocational training
centers in a particular area can be a determining factor for those pursuing further education.
Implications and Recommendations
The implications of studying the lifestyle on the housing preferences of young adults extend
beyond mere housing choices, touching upon broader societal and urban development
considerations. By understanding the intricate relationship between lifestyle factors and
housing preferences, policymakers, urban planners, and real estate developers can make
informed decisions to create more tailored living environments. For instance, recognizing
the importance of proximity to educational institutions and career opportunities suggests
the need for well-connected and strategically located housing developments. Additionally,
accommodating preferences related to social activities, entertainment, and technology
highlights the significance of creating vibrant and technologically advanced
neighborhoods. Moreover, the emphasis on sustainability implies a growing demand for
eco-friendly housing options and the incorporation of green spaces within urban planning.
Overall, the implications of studying the lifestyle on housing preferences underscore the
necessity for adaptable and diversified housing solutions that align with the evolving needs
and aspirations of young adults, contributing to the development of dynamic, inclusive, and
thriving communities.
1022 Exploring the Severity of Factors Influencing Lifestyle on Housing Preference of Young Adults:
A Thematic Analysis
Conclusion
The influence of technology and connectivity on the housing preferences of young adults
is a dynamic and transformative force. The demand for seamless connectivity, coupled with
a growing affinity for smart home features, reflects an evolving lifestyle shaped by the
digital age. The integration of technology into living spaces is not merely a luxury but a
reflection of the changing expectations and priorities of a generation deeply entrenched in
the digital realm. As technology continues to advance, it is imperative for housing
developers, policymakers, and urban planners to consider and adapt to the evolving
preferences of young adults. Striking a balance between convenience, security, and
sustainability, while addressing privacy concerns and cost implications, will be pivotal in
creating housing solutions that resonate with the tech-integrated future envisioned by the
younger demographic. Young professionals may prioritize living in neighborhoods with a
thriving job market, seeking proximity to industries or sectors aligned with their career
aspirations. As young adults establish themselves in their careers, the stability and growth
potential of the job market in a given location become crucial considerations, influencing
their overall lifestyle and housing preferences. In navigating this landscape, the fusion of
technology and housing preferences presents an exciting opportunity to redefine the
concept of home in an era where connectivity is not just a feature but a way of life.
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