Mckinsey: A new housing ecosystem: $3.8 trillion under one roof
Digital platforms open new opportunities for connecting, integrating, and reimagining a traditional sector. Zeroing in on specific segments and pain points shows how.
For decades, home buying has been about as traditional as it gets. Real-estate agents, home listings, mortgage applications, movers, contractors—we all know how this works. In the emerging world of digital ecosystems and sectors without borders, however, the way that housing works is on the threshold of significant change. With many consumers eager for better solutions, massive value will be in play. McKinsey projects that by 2025, housing ecosystems will generate annual revenues approaching $3.8 trillion globally.
To better understand new opportunities, we conducted focus groups among recent home buyers in both the United Kingdom and the United States, as well as surveys of some 3,000 such buyers. Looking closer, six distinct segments of recent home buyers, with notably different characteristics, emerged (exhibit).
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