Vietnam's youth turn to 'doomspending' as housing becomes unaffordable

The term "doomspending" describes a growing trend among Vietnamese young adults who prioritize immediate consumption over saving for long‑term goals such as buying a home. Rising property prices that outpace income growth, persistent inflation and concerns about job security are prompting many to view traditional savings as ineffective. According to Fortune, the behaviour reflects a belief that postponing enjoyment will not guarantee future stability. Psychologists note that prolonged stress can impair decision‑making, while the dopamine reward from purchases offers short‑term relief. The American Psychological Association highlights that such spending can be a coping mechanism in uncertain economic conditions.