CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
CryptoIntelligence 2024-11-27 11:52:00

Low Income Americans Using Crypto Profits to Obtain Mortgages

More lower-income households are using profits from crypto investing to secure mortgages, according to a report by research economists at the U.S. Treasury. In their findings, researchers Samuel Hughes, Francisco Ilabaca, Jacob Lockwood, and Kevin Zhao stated, “Crypto sales may have supported access to larger mortgages through bigger down payments.” They added, “The increase in borrowing is especially striking among low-income households in high crypto exposure areas.” The report revealed that the percentage of low-income households with mortgages in high crypto-exposed areas rose by over 250%. Additionally, the average mortgage balance in these areas increased significantly, climbing from approximately $172,000

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.