Study Shows Youth With No Prospects of Owning a House Gambling on ‘Risky’ Crypto Investments

Younger Americans who don’t own homes are more likely to engage in high-risk investment in cryptocurrency, reports Anand Sinha  in TheStreet.

As the article explains, people who already own homes or are planning to own one soon are less likely to take investment risks. But cryptocurrencies are becoming a common last resort for people who don’t feel they will be able to buy a home anytime soon. “Two economists, Seung Hyeong Lee at Northwestern University and Younggeun Yoo at the University of Chicago, recently published a study which shows that less work, more leisure, and investment in ‘risky’ financial assets like cryptocurrencies are all disproportionately common among youngsters who aren't able to afford a house.”

A similar outcome emerged when researchers looked at households in the U.K.