Some 12% of US first-time homebuyers surveyed within the fourth quarter of final yr stated that promoting cryptocurrency helped them save for a down fee — up from 9% within the third quarter of 2020, in response to a survey by US actual property itemizing supplier Redfin.
The Redfin-commissioned survey included some 1,500 American residents who stated they deliberate to purchase or promote a house within the following 12 months. Conducted by analysis expertise firm Lucid from December 10 to December 13, 2021, the survey centered on 215 of the 1,500 respondents who indicated they have been planning to purchase their first residence within the subsequent yr.
“With further time and a scarcity of thrilling methods to spend cash, many individuals started buying and selling cryptocurrencies in the course of the pandemic,” stated Daryl Fairweather, Chief Economist at Redfin.
Fairweather stated that part of these investments “went up in smoke,” whereas others jumped “to the moon” or a minimum of sufficient to assist fund a down fee on a house.
Based on its analysis of the US actual property market, the corporate estimated that, in response to surging residence costs that result in bigger down funds, a rising phase of consumers search for non-traditional methods to cowl the price of shopping for actual property and compete with different bidders.
Last month, Redfin said that the median residence sale value within the US elevated by 14.6% year-on-year to a brand new all-time excessive of USD 361,171 in the course of the four-week interval ending December 26.
“Crypto is a technique for folks with out generational wealth to win a lottery ticket to the center class,” concluded the agency’s chief economist.
____
Learn extra:
– The More UK & US Crypto Traders Know, The More They Risk – Survey
– Legendary Investor Bill Miller Injects 50% Of Personal Funds Into Bitcoin, Altcoins
– Half of Surveyed Millennial Millionaires Set to Buy Even More Bitcoin, Ethereum in 2022
– 16% of Surveyed Americans are Crypto Investors, Traders, Users – Think Tank
– Rising Number Of Investors Sell Stocks, Bonds To Buy Crypto – Survey
– Almost Third of Professional Investors Sidestep Advisors to Buy Crypto – Survey
– Real Estate within the Metaverse Is Booming. Is It Really Such a Crazy Idea?
– Coinbase’s Armstrong Reportedly Spends USD 133M On New LA Home, This Is How It Looks
https://cryptonews.com/information/more-us-first-time-homebuyers-sell-crypto-for-down-payment-survey.htm
