ImmutableManty on Nostr: Agreed. Bitcoin will suck the "monetary premium" out of real estate, making housing ...
Agreed. Bitcoin will suck the "monetary premium" out of real estate, making housing much more affordable, but there are plenty of reasons to rent aside from the cost of buying.
Maybe I intend to move to another state soon, so renting makes more sense. Maybe I'm saving up money to buy a house (since without a monetary premium that might actually be possible to do without a mortgage). Maybe I'm at a time in my life where I just want to pay someone to take care of everything so I don't have to think about housing.
What will go to zero is buying houses and doing nothing with them, hoping they will go up in value. Rental housing will probably have a big correction as houses become more affordable, but it definitely won't go to zero.
Maybe I intend to move to another state soon, so renting makes more sense. Maybe I'm saving up money to buy a house (since without a monetary premium that might actually be possible to do without a mortgage). Maybe I'm at a time in my life where I just want to pay someone to take care of everything so I don't have to think about housing.
What will go to zero is buying houses and doing nothing with them, hoping they will go up in value. Rental housing will probably have a big correction as houses become more affordable, but it definitely won't go to zero.