Source: Realtor —
The recent volatility in the stock market and cryptocurrencies, fueled by anxiety over the omicron variant, has some would-be homebuyers pressing pause on pricey real estate purchases.
That’s been the case for New York native Neil Kapoor, 36, who toured a luxury home priced at $2.2 million in Puerto Rico last month. With his investments tied up in cryptocurrency, he’s waiting for values to rebound before pulling the trigger. Bitcoin, the gold standard for digital money, has dropped 28% in value recently.
“With the whole [cryptocurrency] market down, that totally changed my dynamic,” says Kapoor, head of business development at CasperLabs, a blockchain technology company. “We might be entering a bear market … so instead of liquidating and buying properties, everyone is holding on to their assets.”