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Let's say Person A and Person B have €10k in cash and are the heads of 4-person households.

Person A buys a €300k house with a mortgage.

Person B buys ⅕ of a Bitcoin.

Now, suppose Bitcoin jumps 5 times from there, within 10 years, and houses stay the same.

Then Person B is holding the Bitcoin equivalent of €50k. He still doesn't have enough money to buy a house and he's been paying steadily-increasing rent for 10 years.

The other guy has been paying down his mortgage for a decade and even gets to write it off of his income tax. His housing costs never increase, he will eventually have it all paid off, and then he never needs to pay a mortgage or rent again.

It is. What it is.

5dcd8ebc... 1y ago

I paid off our small house - and a piece of government paper says we own it. But we still have to pay $600/mo rent to the govt and rising. Housing costs increase every year due to rent increases and increasing cost of maintenance.

At least with a landlord you have a chance of seeing their face. There is something creepy about our faceless govt landlord.

Worse, half of the govt rent goes to genital mutilation of children (and the usual share for murdering babies).

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Discussion

Laeserin 1y ago

Hmmm. Renters actually also pay property taxes, utilities, maintenance, and etc. They just pay off the other person's mortgage, as well, or give them profits, so they're paying significantly more.