Americans Know More About Kim K Than PMI

In what I’m sure is a shock to everyone, Americans know more about celebrity news than the basics of buying a home, according to Zillow’s latest nationwide survey…(Zillow)

Kim Kardashian was by far the most well-known with 85% of respondents knowing she had four children with Kanye West. You can contrast that with two-thirds of survey respondents not understanding the benefits of getting pre-approved for a mortgage and over half of the respondents thinking that a pre-approval meant getting a better interest rate.

Many survey respondents were confused about private mortgage insurance (PMI) think it was required no matter what. However much were Americans were confused about Jennifer Lopez as 70% of respondents knew she was (re) engaged to Ben Affleck.

All in all, the typical adult failed Zillow’s basic real estate knowledge quiz, answering only two of five questions correctly. However, one silver lining is most of the respondents correctly answered that a person’s payment history impacts their credit score and that the purpose of an appraisal is to determine if the home is worth its purchase price.