Oddbean new post about login | logout Ugh, tried to get my mom to sell her 2 bedroom apartment for 50 bitcoin She complained it’s too volatile Today, I doubt anyone would offer her even 10 Bitcoin
Yikes
Her excuse was her age, and renting that property does provide stable monthly income… Can’t do that without substantial risk letting someone hold your coins if you want to take yields on your bitcoin. Hard to trust, for me.
I seriously changed my views on homeownership
It is good to diversify your assets, it can’t all be digital assets, it can’t all be property But I feel like it’s best to be more aggressive while we’re younger
Definitely agree on that! It’s just that I see home ownership as a prison. Location independence became a major goal for me
It is nice to settle down in a place, but it has to feel right for you at that stage of your life. I’m super happy where I am now, especially during this monumental time of change in America Although I’m sure in the future, I’m going to want more space, land trade in the metro card for a pick up truck … 🙏 As long as there’s never going to be a war on US soil, my current property is stable income towards anywhere else I choose to live in the future. Obviously maintenance, upkeep, and keeping the unit constantly occupied… all that can be outsourced, so it doesn’t really lock you down, at least not on paper. I’ll let you know how it works and practice down the road…
👏🏽
Homes depriciate. That's why repairs cost so much. They lose value when you compare them to gold too, but because fiat is the de-facto unit of account, people think homes appreciate. It's bullshit. Fiat and homes both fall, but fiat falls faster.
Home ownership seen as an investment is the one of the biggest lies of the matrix
While a home does depreciate, and its primary value is its utility, owning it provides a substantial benefit of being able to sell it to recoup some of its expense. The alternative to owning is renting, where you have no ability to sell to recoup any value. Unlike most things in life that depreciate, housing is a basic need, so forgoing the expense is seldom an option. So in the end it’s still a worthwhile choice, especially when considering the sovereignty one gains over their place of residency. Though, the shaming of renters is unnecessary as the economic choice to rent or buy can vary based on individual circumstance, and bitcoin has certainly tipped the scales on that decision.