A house is a consumer good, like a car or a TV. Now that we have Bitcoin as a perfect savings instrument, this will be re-realised and houses will lose their monetary premium.

Houses are only as expensive as they are because people bid them up to use them to hide from debasement. It is easier to make a dollar than a house, so houses appreciate.

It is easier to make a house than Bitcoin, so houses will depreciate priced in Bitcoin.

Houses will return to a price that reflects the cost of building it, plus a small margin of profit for those in the business of building them.