Nate's avatar
Nate / 5 months ago
Most folks don't realize that the typical real estate transaction will cost the property owner more to sell it than it did to buy it (in total transaction costs, like agent fees, closings, etc). This means as #Bitcoin steadily demonetizes real estate, there will come a point where real estate owners become upside-down in their properties en masse. It will be like the GFC on steroids. If history rhymes, this will likely lead to mass default, mass foreclosure, financial depression, and revolution.

Replies (2)

FreeYoda's avatar
FreeYoda 5 months ago
A roof is needed to live under. When used for speculating things are pretty distorted.
Nate's avatar
Nate / 5 months ago
But when people want to move, often because their needs are changing or family is growing, they'll be trapped. There will come a point where the costs to sell your home exceed your equity. Imagine that your first home becomes your forever home, and the societal implications of this happening to majority of home owners.