On the tendency of young people to either inflate or deflate home rental prices depending on who is asking
I’ve observed that young couples who have taken a house on rent offer two different rental amounts based on who is asking.
- To parents and elders, the rent amount they will state will be lower than the actual amount they are paying.
- To friends and peers, the rent amount will be higher than what they are paying.
I think, to the former, these young couples want to demonstrate fiscal prudence. To the latter, they probably wish to signal social status.
It is an interesting form of generational and intergenerational virtue signalling. A socially savvy reaction to the expectations of whichever group is enquiring about the rent they are paying for that lovely new house. I think it demonstrates a certain awareness of self in society and the equilibrium that has to be maintained to fit in.