Bitcoin Overtakes Housing as Gen Z's New Wealth-Building Asset
Gen Z is increasingly turning away from traditional wealth-building assets like housing and towards Bitcoin as their preferred choice for building long-term wealth. According to Hunter Albright of SALT Lending, this shift in preference is largely driven by the unaffordability of housing for young people.
'Housing affordability has been a problem for decades,' said Albright, 'and I think it's what's changing what assets an entire generation chooses to build wealth with.'
One solution that SALT Lending offers is borrowing against Bitcoin without having to lock up the coins for 30 years. This allows young investors to use their cryptocurrency holdings as collateral for down payments on a home, without having to sell their coins.
Fannie Mae and Freddie Mac have recently started recognizing Bitcoin, which could make it easier for people to use their crypto assets as collateral for mortgages. SALT Lending also offers five-year loan terms, which can give borrowers more flexibility in managing their debt.