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My house is up 40% since I bought it in 2020. If I hadn’t done it when I did, I wouldn’t have been able to afterward. I know someone who’s super jaded about the fact that he spent 4 years saving dollars for a down payment on a house and now he can’t afford anything. I had already been trying to get him into bitcoin, but when I came across average housing values priced in bitcoin going down over time I showed it to him. So far it doesn’t seem to have registered. He thinks the SEC needs to close loopholes for Wall Street so his GameStop shares go up. Super sad really.

Citizen 1y ago

Well, unfortunately it sounds like their GameStop plan didn't work out... He, probably unknowingly, started to denominate his wealth in GameStop shares. Similar to how you can denominate yourself in Bitcoin. You have to pick which very carefully.

Why would those shares go up now? They still need a reason to go up in fiat value even with rule changes.

The fiat valuation of your house went up 40%. So others who *only* have fiat have to spend 40% more to buy it. People who base themselves in something else like Bitcoin can buy it for cheaper overtime. I will say you still have to time yourself right in Bitcoin, at least for the short/medium timeframe ahead.

Its's sad to see the middle class getting smaller like this though.

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Discussion

Foxfire Mushrooms 1y ago

Yeah, I definitely don’t consider it to be a good thing that my house appreciated so much. It’s a good thing for me personally compared to someone saving money and losing it. But it’s super bad for the society I live in. I think Bitcoin most likely will demonetize the housing market eventually and hopefully that’s the fix.

NaturalNerd 1y ago

I hope Bitcoin also fixes building temporary houses out of pine sticks. I would likely spend BTC on something like an earthship. Something designed to be energy producing and long lasting, generational housing

Foxfire Mushrooms 1y ago

I stayed in an off grid one of those in Taos, New Mexico once it was pretty sweet.

Citizen 1y ago

Probably after a wave of Socialized housing by governments which will inevitability fail unfortunately. (Depending on where in the world one lives)

During which will give a boost to #Bitcoin valuation.