Young people are so poor that they’re forced to invest in crypto, study says – DL News
- Young people turn to crypto as a Hail Mary bet to own a house.
- People born in the 1990s are less likely to own a home than their parents.
- Renters with a net worth below $300,000 are more likely to invest in crypto.
Young Americans gamble on crypto because they can’t afford a home, according to a study published on November 19.
The study argues that a jump in the median US house price-to-income ratio between 1984 and 2022 means it takes nearly two more years to afford the same home, forcing young people to find alternative methods of funding their homeownership dreams.
“When the probability of ever buying a home collapses, households shift toward high-variance assets with transformative upside — crypto perfectly fits that profile,”…
