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Against the backdrop of a 30-year fixed mortgage rate hitting 6.95% in September, the cost of entry for American homeowners has reached a decade high.
Greenlight Capital cofounder David Einhorn argues that younger generations are failing to buy homes because they prefer the quick speculation of crypto and sports betting over the long discipline of a mortgage.
The Behavioral Shift Einhorn stated on Morgan Stanley's Break the Playbook series that he senses a generational impatience.
He noted that many young people would rather speculate in stocks, crypto, or sporting events to build wealth through guessing.
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