Houses are the new Instagram influencers - so it's a shame most millennials in the US will likely be renters for years

- There's a new kind of influencer in town - the home-décor influencer, who has turned their house into a money machine, reported Ronda Kaysen for The New York Times.
- By creating an Instagram feed that serves as a curated home photo tour, these influencers have built followings of hundreds of thousands.
- While this helps them generate a paycheck through methods like sponsored ads, some of their generational peers are struggling to afford a home.
- Visit Business Insider's homepage for more stories.
Instagram influencers can forget the #OOTD (outfit of the day) - fashion is no longer the only way to build a cash-inducing Insta following.
Enter the home-décor influencer, who has found a way to turn their home into a "money-making social media star," as Ronda Kaysen reported for The New York Times.
By creating a feed that functions as a photo tour of their house, these influencers have attracted thousands of followers, Kaysen wrote, citing @mytexashouse's 449,000 followers and @erin_sunnysideup's 241,000 followers as examples.
"Some have gained traction chronicling the restoration of an old home or the construction of a new one," Kaysen said. "A few dabble in areas like fashion, parenting, cooking and makeup, but they primarily peddle the infinite marketability of a home's interior, with all its trappings."
The concept is nothing new. Reality TV shows, from the 1980s' "Lifestyles of the Rich and Famous" to today's HGTV line-up, have long catered to society's obsession with seeing inside people's homes, Kaysen said - Instagram is just making the concept more accessible.
It's a balancing act between presenting a curated, though revealing, version of your home life, from family photos to spotless and organized living spaces, and not oversharing.
Those who have found a way to build a following and engagement generate money through affiliate commissions, sponsored ads, and merchandise promotions, according to Kaysen. Earnings are unknown, but an influencer with 100,000 followers can earn $1,000 per post, she said, citing Instagram platform Later.
The irony here is that many of the average home-décor influencer's generational peers are likely to be renters for years.
Thanks to an increasingly expensive housing market, millennials are renting longer and buying later. First-time homebuyers today are likely to pay 39% more than first-time homebuyers did nearly 40 years ago, according to Student Loan Hero. A report by SmartAsset found that in some cities, the median home outweighed the median income by so much that it could take nearly a decade to save for a 20% down payment.
So, while some millennials are churning a profit off their big houses, others don't even have enough money for a starter home.

Chuck Schumer calls for a 'fair and honest' weekslong Senate impeachment trial featuring new testimony from four key witnesses

AI IN BANKING: Artificial intelligence could be a near $450 billion opportunity for banks - here are the strategies the winners are using

The Chicago Bears nearly saved their playoff chances with an elaborate, last-second series of laterals but wound up a few yards short

How Do I See My Google Activity

Cowboys' opening coin toss was screwed up by everybody giving the ball to the Rams to start both halves
What is citizenship bill and how does it affect religious freedom in India?
India is slowing down so fast that even experts can’t keep up
Meet the 33-year-old Chennai techie who spotted Vikram Lander on Moon’s surface and alerted NASA
Raghuram Rajan's warning about Mudra loans last year may be coming true
Microsoft’s four-day work week idea will be good for Indians— but there is a lot to be fixed before that
Dues, death and an investigation — all that went wrong with OYO hotels in the last 6 months
Three wise men who exited Vodafone India just in time to make millions
SAIF Partners invested in Swiggy when they just had a landing page – today they are going after more seed stage startups, here’s why
SIGN IN WITH
FacebookGoogleEmail