I need those numbers for Germany too, my wife thinks we should get a house.
Discussion
You can buy a house, then take a loan against it and buy BTC with that money. Then you still have the BTC whatever happens with the house, the bank, and the country 😁
Sounds tempting 😉 Unfortunately this won’t work (at least in the EU). The bank will only give you a loan when it sees the signed contract for the house purchase and all necessary insurances. It’s part of the loan deal.
If I could buy a house first, without the bank, why would I bother at all? Also in that case, I would just go all-in for bitcoins and buy a house after the nearest halving.
I thought about that but it isn’t as simple as it sounds. A lot of banks hold custody of the bitcoin. If something happens to the bank, country, or house they can sell your bitcoin because you don’t hold the keys when you take out the loan. Also, the interest rate is over 16% on the websites I’ve looked at so you are paying about the same as capital gains tax. And you have to post a significant amount as collateral. If the bitcoin price tanks, then you have to post more collateral or get liquidated.
I proposed to take a loan against the house, not against the bitcoin. So in worst case you lose the house, not bitcoin.
My bad brain fart lol yeah that may work but I haven’t run the numbers. Most my age are still trying to buy a home so this isn’t an option for everyone.
Plus new homeowners won’t have much equity to take a loan out against anyway and the interest rate is going to be pretty high on that as well. Fiat games are annoying.
But if you morgage the house and use that money to buy bitcoin and hold in own custody that sounds possile, or are there more hidden tricks they play?
One should check in individual case, what is better. I guess, that because the mortgage is available for both someone who already has enough money to buy and the one who doesn't, it is in general less efficient for the first group of people. Banks have to exploit the second group of people somehow, so conditions should be worse in general. But everyone should check themselves, because it may vary from country to country and from person to person :)
The landlord might surprise us and tell us to move out in which case we will have to find a new place but all the rental prices have gone up. Buying a smals house just might make sense. But it feels more tempting to get bitcoin before the halvening.
You can also wait for halving in a cheap country, e.g. in Thailand.