In a California neighborhood where the houses are over $1 million, 3 of the 4 houses abutting my property are vacant, and have been for close to a year. Why ? A combination of baked in monitary premium on top of the true valuation of the houses. In addition to the fear of inflation, ever increasing property taxes have a huge on the market.

In a nearby exclusive yacht club community with 320 homes and a private marina , I learned that 40% of the homes in the neighborhood were 2nd vacation homes. Most the people kept the 2nd homes for Federal tax reasons, inflation hedges, and a way to escape California state tax with their other out of state "primary" residence.

The FIAT money system is retarding real-estate uses and valuations in all manners and forms. Bitcoin will bring one hell of an adjustment to this market when people realize how it works. It's starting to happen now. People are starting to save in bitcoin, instead of using houses as piggy banks