How Bitcoin is like the Housing Market
The housing market in the United States has been on the decline since late August. While unfortunate, it’s something Americans are used to. Since 2008, the country has struggled with the regular ups and downs of its housing market, and many of us, despite the media’s attempts to convince us that things “have gotten better,” remain skeptical. With the recent drop, that skepticism appears to be somewhat justified. In retrospect, though, how upset can one get about the current situation? As we have seen in the past when things go down, they eventually come back up. It’s bound to take time of....
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“Bitcoin is a bubble” is something that has been thrown around a lot ever since the last bull run began in 2017. A lot of prominent personalities in the finance industry took this stand when the digital asset hit its then all-time high of $19K. The bear market that followed seemed to validate this for the next few years. Then the bull run of 2020 started and a lot of those sentiments were put on the back burner. But now, John Paulson has come to hit the market with the same thing. Related Reading | Here’s How Much Your $1,200 Stimulus Check Would Be Worth In Various Cryptocurrencies....
Two Brigham Young University-Idaho off-campus housing developments recently announced they will allow residents to pay for rent with Bitcoin. EdgeCreek Property Management, which provides BYU-Idaho approved housing, is accepting Bitcoin in both the Nauvoo House for Men and the Mountain Pines Apartments for Women. This is a huge step forward for cryptocurrency, especially Bitcoin. Although someone can pay bills with Bitcoin using services like BillPayForCoins, the recent news at BYU-Idaho will bring the ease of use and practicality of accepting Bitcoin to the forefront. There are a few....
Web3 solutions may be the answer to America’s housing market, but will the mainstream want to use blockchain-based platforms? America’s housing market may soon be facing its next bubble as home prices across the country continue to be fueled by demand, speculation and lavish spending that could result in a collapse. Moreover, many homeowners are opting to stay put due to climbing mortgage rates, creating a housing shortage. Data from the Federal National Mortgage Association, commonly known as Fannie Mae, found that 92% of homeowners think their current home is affordable. Yet, findings....
Nobel Prize-winning economist Paul Krugman has compared the current state of cryptocurrency to the housing bubble and the subprime mortgage crisis. Noting that crypto lacks any real value, he said: “it is a house built not on sand, but on nothing at all.”
Paul Krugman on Crypto, Housing Bubble, and Subprime Mortgage Crash
Nobel laureate Paul Krugman discussed the current state of cryptocurrency in an opinion piece published in the New York Times Monday.
Krugman won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2008....
Is the housing market in a bubble? Is the cryptocurrency party about to blow up? This informal study is fascinating because it doesn’t come from the crypto world. The author, Rick Palacios Jr., is the Director of Research at John Burns Real Estate Consulting. The results are surprising, to say the least. Especially considering how early we are. Whatever camp you’re in, one thing’s for sure, cryptocurrencies will be a big factor for the rest of the decade. Maybe for the whole century, even. Related Reading | Virtual Real Estate Takes Off With Backing From Billionaire Mike Novogratz....