I've been trying for a year to help my mom understand this concept, but she just won't come around. She has $350,000 in cash and wants to buy a condo. I keep telling her that buying Bitcoin with it and renting out a property would go much further in the long run, but she's too set in her ways and entrenched in the traditional system to see it.
It's tough for people to break away from the idea of houses as investments. They understand that cars are depreciating assets—though many still take on debt for a new one—but they can't grasp that houses might function similarly, even if the fiat value increases.
It'll be interesting to see how long it takes for people to view houses for their utility value rather than as investments. Some people have multiple cars because they like cars, fully aware they'll lose value over time. I wonder if we'll eventually see a similar trend with property—owning multiple homes simply for personal satisfaction, not as financial assets.
Do you think we'll be seeing this soon, where owners of multiple properties sell to transition into Bitcoin? And potentially deflating real estate assets?