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Economists warn unaffordable housing is forcing young Americans to crypto
With house ownership becoming an increasingly distant dream, young Americans are turning to cryptocurrency. Gen Z is being blamed for being lazy at work, luxury spending, and a “Yolo” attitude to risky investments like cryptocurrencies and non-fungible tokens (NFTs). However, the youngsters have embraced these labels and their behavior can even be said to be rational due to worsening economic conditions, including housing becoming increasingly unaffordable. This is the finding of a recent Financial Times report by John Burn-Murdoch. Two economists, Seung Hyeong Lee at Northwestern University and Younggeun Yoo at ... (full story)
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