PANews reported on November 27 that according to Cointelegraph, according to a report by economists at the U.S. Treasury Department, more and more low-income families are using the proceeds from cryptocurrency investments to apply for mortgage loans to buy homes. The report pointed out that in areas where cryptocurrency is more popular, the proportion of mortgage loans for low-income families has increased by more than 250%, and the average mortgage balance has increased from about $172,000 in 2020 to about $443,000 in 2024, an increase of 150%.
Total U.S. household debt hit a record high of $17.9 trillion in the third quarter, driven by an increase in debts such as mortgages, auto loans, credit cards and student loans, according to the Federal Reserve Bank of New York.
