4 ms·
I think the unaffordability of housing is a driver of this. At the rate prices increase saving a couple grand a year is basically pointless so might as well yol
by nimos 5y ago
I think the unaffordability of housing is a driver of this. At the rate prices increase saving a couple grand a year is basically pointless so might as well yolo on some crypto/gambling on the off chance of making it big.
It's not entirely illogical either if you assume the marginal utility of money is discontinuous and there is a jumps around at certain thresholds such as being able to afford a reasonable home.
- imtringued 5y agoI wonder how inflexible this demand is, what if it's a checkbox that almost every human wants to check? Maybe not for their entire life, but at least until the kids move out. It is entirely possible that cheap financing results in higher down payments which in the end actually fuels a savings craze that drags inflation down. I also suspect that over the long term a lot of products are going down in price and housing costs like rents are dragging the CPI up.