Ya where’s Nick and Tom???
Discussion
Tough to call. So much nuance here ... property type, location etc. etc. Just interviewed Brent Johnson (dollar milkshake theory) and this came up. I think the team will release it next week. He's negative on Canadian real estate but when I pushed a bit he admitted that it can go higher in nominal terms from here, especially in response to any economic crisis.
My bet here is prices go UP on Canadian real estate over the next few years. The banks and the gov need real estate to go higher ... so they will. I don't agree with this approach but that's the game.
Think of it this way. What will lose value faster? The Canadian dollar or a good hard asset property and then place your bet accordingly.
But in BTC terms real estate just continues to get obliterated.
Bottom line: Up in fiat terms, down in BTC.
I guess if M2 supply increases, which we all know it will, real estate will go higher?
I’ve always been such a bear on the housing market for the past few years. It’s so hard to believe that prices will increase. I really feel bad for first time homebuyers, and I can only imagine how frustrated they likely are.
Looking forward to watching the interview, Tom🤙🏼
I think you're right to be cautious here. I'm just going off of exactly what you stated ... M2 is going higher (mandatory) so therefore scarcer hard assets go up in dollar price. Doesn't mean they trend down for a little longer here etc. Unlike the 2010 which was a steady rise in prices, this decade real estate will continue to be much more volatile as the fiat system unwinds.
I feel for the first time homebuyers as well. Hope some of them are spending the time to understand Bitcoin.