This is a picture for a house viewing in Dublin…
Over 100 people queuing!
Just like the #CostOflivingCrisis, if you follow the incentives… it comes back to the same root problem.
Value is searching for a ‘home’, now more than ever, and this is partially why there’s such a huge housing issue.
If you know your money is being devalued, and you have lots of it, where do you put that money?
Certainly not in a ‘savings account’ that’s losing more value than it can return.
Those with the most are investing in anything that will hold value over time…
Money has been flowing into the property market, and we’re reaching the point where a few landlords buy out the Monopoly board. Everyone else is stuck throwing unlucky rolls.
The bad money has not just caused excess investment in property and a hike in prices, but it’s made the prospect of owning a home far harder for those who have to start at the bottom. The money they are saving for a property is losing value due to inflation and cannot meet the rise in asset prices, which is again due to the monetary supply and inflation.
It’s a tragic double whammy.
Going back to our monopoly board, what other options are there for the ‘renters’?
In Japan, some pensioners are actively rolling to land on ‘go to jail’.
It sounds unbelievable, but this article from 2019 tells the story of a pensioner who is committing crimes to live in jail rent-free.
“It’s not that I like it but I can stay there for free,” he says. “And when I get out I have saved some money. So it is not that painful.”
We now seem to be edging closer and closer to the WEF slogan, “You’ll own nothing. And you’ll be happy.”
This is why “fix the money, fix the world” is a thing.
Bad money causes massive market distortion that cannot be resolved unless the money is fixed.
We’re hopeful that as Bitcoin develops more value will be diverted and prices will slowly become less distorted. But we’re still very early… which is a good thing!
If you’re looking to accumulate Bitcoin over time, we make it easy at FastBitcoins… just make sure you own the ‘keys’ to your ‘house’.