I know what some are thinking.
the home is tangible, you can live in it, and it always has value.
This his true. A home will always has value, and as far as I know, you can't live inside of a nano coin even though that sub will make you believe you could. Thats not my point.
I compiled some data, personal experiences of what I've been through, what my parents went through. and just about everyone I know went through when it came to buying a home.
Lets talk about some of things that make buying a home a higher risk financially, and mentally than buying crypto currencies .
Buying a home offeres you no real protection
Sure if you lose your key, you can get back into your home without any major issues.
Sure, you're probably not going to get your house stolen. At least not permenatly .
Sure you can buy insurance if it burns down. But thats just another expense to have a peace of mind.
What I mean is it offers no real protection to always be yours.
Its actually quite sad, and painful. My wife's aunt is in her 80s not in the best health, and her uncle passed away 4 years ago Her uncle bought the house 45 years ago, and built additions by hand, however. Her aunt is retired with a very bad back, can't work, and can't pay the taxes anymore on top of her medical bills.
The house is also falling apart, theyve been too old or sickly the last 20 years , and retired to keep up with everything . that doesnt matter. All this widowed woman wants is to die peacefully in this house with all the memories.
Not happening. Even though the house has been paid off for, built mostly by hand, and taxes paid off for the last 40+ years , the city doesn't care. They are there to strip it away from here. She has about 6 months or so before shes forced out.
In the end, the country isn't there for you.
Unless you plan super carefully, you'll get fucked out of your home .
The burden of a mortgage
Just about everyone I know is trapped in some sort of mortgage. The middle class cant afford to pay outright for a home. Youre sometimes taking out a 30 year loan. Promising to pay with the money you make in the future.
You're stuck in that loan, if you can't pay it, your home gets taken away.
Sure sure. You can get back money you put into it, but you'll never get back what you put into a home. Between insurance, repairs, maintenance, taxes, and interest rates... You'll never get back what you put into it. In fact, the taxes you pay in areas cost more than the mortage over 30 years. Its a joke.
Housing market is highly speculative
It seriously is. I live minutes outside of NYC . Theres some 700sq foot studio apartments selling for $5,000,000 easy. All in the name of
"Its hip"
"its a private building with a parking space"
"John Oliver eats at this restaurant down the street"
"Its like a totally convenient location"
Oh a famous person is there regularly ? So is the bum smoking cuts in front of the place.
The city has bad air quality. Theres constant traffic, constant road blocks, protests, constant noise, you have to pay for parking everywhere, and everything costs more in the city!
The rent is getting too expensive on a street in the bronx that just had a shootout last week . Last time I checked the rent goes down in dangerous neighborhoods.
Holy shit! They talk about crypto currencies being a speculative market.
I havent even got started yet. Countless places around the world are going through the same "Bubble".
Buying the all time high is worse after the dip
Those who bought homes in 2008 before the bubble: 10 years later these homes still haven't quite reached that ATH. Talk about some serious family wrecking FOMO. So many people Panic bought a home because they felt if they didn't buy it then, it would get too expensive , and they will never be able to afford a home. The market tanked, and all these people got stuck ina mortgage for double the price of the home.
What a joke. Finally when it reaches its ATH, its gonna crash again . Watch.
Unless you are buying and selling homes, or own and rent multiple properties, then Its just simply a high risk that very few are successful in. Only the really keen sold at the ATH. Its easier said than done. You can't sell 10% of your home to take some profit before it dips, you have to sell the whole thing. lol
All I'm trying to say here is...
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it doesn't cost an average of over $100,000 to invest into crypto currencies.
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There are no monthly property taxes on my holdings.
- I will never have to pay more than what I originally paid because of interest on a loan, or taxes.
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no one is taking my crypto away from me for not paying property taxes. There's only capital gains tax.
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unless your property is sitting on top of oil or a precious metal mine, you'll never see your home go x5 x10 x 100 . maybe x5 but that's highly unlikely before you die. Things might of been different 50 years ago. But its not 50 years ago.
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I don't have to go through agonizing paperwork to buy, sell, trade, or transfer crypto.
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I don't have to buy a whole one.
Screw buying a home. Screw the media for spreading FUD and FOMO over homes consistently but have the nerve to say stay away from crypto.
Right now, buying Crypto is way better than a home . you don't have to maintain your bitcoin, just keep it on a wallet. It isnt going to fall apart on you , no one is there telling you...
"Cut your grass or get a fine. Its too high"
Our only true worry is getting our coins stolen , or the value collapases forever .
No wonder why so many rich people buy and sell. its because they know they cant get rich working to pay off a mortgage.
Peace.
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