The housing crisis is pushing Gen Z into crypto and economic nihilism
ft.comStudy:
”Giving Up": The Impact of Decreasing Housing Affordability on Consumption, Work Effort, and Investment - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5770722 - November 19, 2025
Of course they are. Once every economic variable has been optimized and protected behind a corporation, while banks have adverts showing people high-fiving each other in their Manhattan financial literacy café, and the health insurance system and party in power look for every excuse not to provide health insurance (but do download our mindfulness app), everyone recognizes the cognitive dissonance. Just because you publish Pravda doesn’t mean that people believe in it. You take away the things that give meaning to someone’s life and hope for the future.
"Why are people voting for Democratic Socialists and young cohorts are supporting communism at the rates that they do?" The current system, based on all available evidence, has unequivocally failed [1].
> "A recent survey by the Cato Institute and YouGov paints a troubling picture: 62 percent of Americans aged 18–29 say they hold a “favorable view” of socialism, and 34 percent say the same of communism." [2] (My note: Troubling for who?)
[1] https://news.ycombinator.com/item?id=46062229 (citations)
[1] https://www.cato.org/blog/81-say-they-cant-afford-pay-higher...
So they’re bidding crypto because they can’t bid houses no more? /s