If someone doesn’t like Bitcoin I really can’t take their worldview seriously.
They just haven’t figured it out yet because understanding monetary incentives and their tail effects brings everything into focus.
Arguing with people who aren’t there yet gets exhausting. Nostr is refreshing.
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"Victory is won not in miles but in inches. Win a little now, hold your ground, and later, win a little more."
- Louis L’amour
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https://creastats.crea.ca/board/orea
Sounds like sales volumes in Ontario are drying up. My understanding is that this happens because the sellers have not yet adjusted their prices to the new lower market rate. Prices are likely to fall now as sellers have to refinance into higher rates and might have to liquidate and downsize.
Sales are down, but so is supply. Low volume is a condition that could lead to price decreases if a flood of distressed supply hits. So that’s kind of what we’re waiting to see happen. So far, surprisingly tight and actually possibly prices trending higher over the last two months.
Can RE prices have outperformed US prices significantly. I think part of the reason for that is because the effect of the expansion of the CAD supply due to low rates is felt only in Canada. I’m theorizing that skyrocketing real estate prices are a strong indicator of debasement as Canadians end up monetizing their house as their SOV rather than Canadian dollars.
All I want from Pierre is to establish a beach head for Bitcoin. Removing gatekeepers sounds good, but practically speaking not counting on anything there.
Keep in mind, when the Canadian dollar is debased it comes directly on the backs of wage earners. The USD debasement is exported across many countries internationally. This could be one factor in why Aussie and Canadian real estate have outperformed US since 2008.
Alberta is definitely making a case for itself. People moving North often consider it. Politics could push people there eventually.
More importantly what banks will do to help them. Already seeing amortizations being rolled out to 35 years to lower payments.
Moffat just posted date saying record numbers of people are leaving Ontario for other provinces. A net difference around 80k over those coming in from other provinces.
National immigration is probably still offsetting it though.
Also noticed a trend of people moving north.
The supply/demand problem is not likely to be fixed by anyone in power in a meaningful way because it literally gate keeps wealth creation for the rich and powerful.
I agree that is the obvious answer. If it doesn’t happen, what does it mean for the value of the dollar? Even if it plateaus, if rates come down in a few years prices will be even higher.
You have to think they’ll come down, or we are farther along in the fiat death spiral than many think.
Not trying to brag, but I have 2 badges 🟣👀
I agree. That would be my assumption as well. If there isn’t a correction it’s huge validation for Bitcoin vs the dollar as money.
Aright I have two badges! 🟣