Makes perfect sense if you think of it. Typically, first home buyers are young people, depending on the country, it can from 20 to 30 years old, perhaps more in some places. This is mostly a profile in which at least 12% of people would have some crypto even in the early stages. It is a quite interesting fact still, as it depicts how a deflationary asset is used for only the things that actually matter most to people and on which it makes sense to spend some of the holdings.
I think that the depending on the country is the biggest factor here, you can't easily buy homes or even a land of your own in some countries as it's very expensive, hopefully that can happen to me too with crypto because right now, it's around 1.5 bitcoin and I can already have a decent home and land of my own in my country. Totally makes sense especially if you're one of the early crypto adopters and you've hit a gold mine when the crypto that you've invested gave you an astronomical profit. 
Topic: 12% of First-Time Homebuyers Say Selling Crypto Helped Save for Down Payment - page 2. (Read 194 times)
January 12, 2022, 01:41:23 AM
January 12, 2022, 01:27:40 AM
I can tell from personal experience that 5 of the people I introduced to Bitcoin and Alt coins, have used their profits to pay for cars and also for a down payment on the deposit for a new house. 
Two of these people have never owned a property before and the home loan does not cover the full cost of the property.
They told me that if it was not for the profits that they received from those Crypto currency trades, they probably would have never had accumulated enough money for those deposits. I am just glad that my advice and guidance made a difference in their lives and that it helped to put a roof over their heads.
Two of these people have never owned a property before and the home loan does not cover the full cost of the property. They told me that if it was not for the profits that they received from those Crypto currency trades, they probably would have never had accumulated enough money for those deposits. I am just glad that my advice and guidance made a difference in their lives and that it helped to put a roof over their heads.
January 12, 2022, 12:28:15 AM
Great. I am going to do the same
Wow! That is truly incredible. Although I believe that many of my friends have purchased a home and other luxury items as a result of the crypto, I had anticipated that they would be affected as well. However, when covid struck, they were earning more than before, leading them to purchase homes and high-end automobiles, which I find astounding. According to the survey, new homebuyers are earning bitcoin, and I would speculate that this is primarily millennials or young people who are making large sums of money as a result of cryptocurrency.
January 12, 2022, 12:02:21 AM
In any kind of investment (crypto or none crypto) some will make money and others will lose, the story is not always the same for everyone, however, those who have had the opportunity to make something out of their investment will want to loud it, I mean out of the millions of people invested in crypto, I strongly believe the number of happy investors are way higher than the unhappy ones, (my personal observation) otherwise, we won't see more people coming in and the OG's would have jump ship long ago, but that's hasn't been the case,
So yeah, the article is not far from the truth, crypto investment has helped many to get things done much easier.
So yeah, the article is not far from the truth, crypto investment has helped many to get things done much easier.
January 11, 2022, 09:30:57 PM
It’s also worth pointing out, and the article has made it clear, that while others have made money out of their investments, others have also lost theirs. Other investments went to the moon while others went up in smoke. And that has always been the case with crypto investments. Sometimes the focus is only directed at those who made massive gains. Those who made massive losses are oftentimes canceled out especially by crypto fanatics.
It’s important that people will see the whole picture. Others have made downpayment for their homes while others have lost their rents. There are always two sides of a coin.
The article also compared crypto gains to winning lottery tickets. I guess it always falls on how much due diligence, caution, and risk-taking one is doing.
It’s important that people will see the whole picture. Others have made downpayment for their homes while others have lost their rents. There are always two sides of a coin.
The article also compared crypto gains to winning lottery tickets. I guess it always falls on how much due diligence, caution, and risk-taking one is doing.
January 11, 2022, 07:31:55 PM
Makes perfect sense if you think of it. Typically, first home buyers are young people, depending on the country, it can from 20 to 30 years old, perhaps more in some places. This is mostly a profile in which at least 12% of people would have some crypto even in the early stages. It is a quite interesting fact still, as it depicts how a deflationary asset is used for only the things that actually matter most to people and on which it makes sense to spend some of the holdings.
January 11, 2022, 07:19:02 PM
Quote
12% of First-Time Homebuyers Say Selling Crypto Helped Save for Down Payment, Up From 5% in 2019
Digital currencies are becoming an increasingly common payment method as millennials rush the housing market.
One in nine first-time homebuyers (11.6%) surveyed in the fourth quarter said selling cryptocurrency helped them save for a down payment. That’s up from 8.8% in the third quarter of 2020 and 4.6% in the third quarter of 2019.
This is according to a Redfin-commissioned survey of 1,500 U.S. residents planning to buy or sell a home in the next 12 months. The survey, which was fielded to a representative sample of the American population, was conducted by research technology company Lucid from Dec. 10 to Dec. 13, 2021. Respondents were not made aware that Redfin was the sponsor of the research.
This report focuses on the 215 of those 1,500 respondents who answered the question “How did you accumulate the money you need for a down payment?”—a question we only posed to participants who indicated they were planning to buy their first home in the next year. The most common response was “saved directly from paychecks” (52%), while less common answers included “cash gift from family” (12%) and “pulled money out of a retirement fund early” (10%).
“With extra time and a lack of exciting ways to spend money, many people began trading cryptocurrencies during the pandemic,” said Redfin Chief Economist Daryl Fairweather. “Some of those investments went up in smoke, but others went ‘to the moon,’ or at least rose enough to help fund a down payment on a home.”
Bitcoin, the world’s largest digital currency, hit a record high of nearly $69,000 in November. Ether, the second most valuable cryptocurrency, also reached an all-time high, though both coins have since lost some of those gains. With surging home prices leading to larger down payments, some buyers are finding non-traditional ways to cover the cost and compete with other bidders.
“Crypto is one way for people without generational wealth to win a lottery ticket to the middle class,” Fairweather said.
Digital currencies are also likely on the rise as a payment method among homebuyers because millennials and Generation Z are taking up an increasing share of the U.S. housing market. Millennials, who own more cryptocurrency than other generations, now account for more than half of new mortgages.
https://www.redfin.com/news/real-estate-cryptocurrency-down-payments/
Digital currencies are becoming an increasingly common payment method as millennials rush the housing market.
One in nine first-time homebuyers (11.6%) surveyed in the fourth quarter said selling cryptocurrency helped them save for a down payment. That’s up from 8.8% in the third quarter of 2020 and 4.6% in the third quarter of 2019.
This is according to a Redfin-commissioned survey of 1,500 U.S. residents planning to buy or sell a home in the next 12 months. The survey, which was fielded to a representative sample of the American population, was conducted by research technology company Lucid from Dec. 10 to Dec. 13, 2021. Respondents were not made aware that Redfin was the sponsor of the research.
This report focuses on the 215 of those 1,500 respondents who answered the question “How did you accumulate the money you need for a down payment?”—a question we only posed to participants who indicated they were planning to buy their first home in the next year. The most common response was “saved directly from paychecks” (52%), while less common answers included “cash gift from family” (12%) and “pulled money out of a retirement fund early” (10%).
“With extra time and a lack of exciting ways to spend money, many people began trading cryptocurrencies during the pandemic,” said Redfin Chief Economist Daryl Fairweather. “Some of those investments went up in smoke, but others went ‘to the moon,’ or at least rose enough to help fund a down payment on a home.”
Bitcoin, the world’s largest digital currency, hit a record high of nearly $69,000 in November. Ether, the second most valuable cryptocurrency, also reached an all-time high, though both coins have since lost some of those gains. With surging home prices leading to larger down payments, some buyers are finding non-traditional ways to cover the cost and compete with other bidders.
“Crypto is one way for people without generational wealth to win a lottery ticket to the middle class,” Fairweather said.
Digital currencies are also likely on the rise as a payment method among homebuyers because millennials and Generation Z are taking up an increasing share of the U.S. housing market. Millennials, who own more cryptocurrency than other generations, now account for more than half of new mortgages.
https://www.redfin.com/news/real-estate-cryptocurrency-down-payments/
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Title was too long to fit, it should read:
12% of First-Time Homebuyers Say Selling Crypto Helped Save for Down Payment, Up From 5% in 2019
One great thing about this is, it shows how cryptocurrencies carry a potential for economic benefit. In terms of it making it easier for people to afford houses and real estate.
Its difficult to measure the impact that cryptocurrencies have about society as a whole. Its been generalized as being a creator of jobs and wealth. I have gone so far as to claim that it elevates our standard of living.
If nothing else, I hope we can all agree that crypto provides us with more opportunities and options than we would have without it. And that's always a good thing, am I right.
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