Housing market like any other sector has also been impacted by the rapidly increasing usage of digital currencies as a mode of payment. 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. A Redfin survey in Q4 indicated that one in nine first-time homebuyers (11.6%) surveyed said selling cryptocurrency had helped them save for a down payment. In the past 6-months trading, Bitcoin (BTC-USD) prices have reported 25.9% gains while Ethereum (ETH-USD) reported a 46.7% gain; (DOGE-USD) reported a 1,434% gain in the past 1-year. In November, Bitcoin peaked to its all-time high levels of $69K. Quick look the price comparisons of crypto currencies in past 6-months along with the iShares U.S. Real Estate ETF (NYSEARCA:IYR) and iShares Mortgage Real Estate ETF (BATS:REM): Millennials, who own more cryptocurrency than other generations, now account for more than half of new mortgages.
