Once in the United States, owning your own house was the holy grail of the American dream. Housing is definitely expensive, but with a stable job and a fixed-rate loan from a bank, you can plan your future and expect a place to retire, even if you have to cut expenses in other ways.
That was before the hollowing out of the American job market, it became more and more difficult to obtain and maintain a high-paying job, or banks began to market “refinancing” to allow people to live on the “surplus equity” in their houses and start selling subordinated assets. Mortgage loans so that people can buy more than they should be able to afford-as long as interest rates do not rise, this is sustainable!
Then, the subprime mortgage market collapsed and destroyed the entire economy. Not only was this event still not recovered from the world, but another collapse seemed to be approaching. There is no doubt that according to some reports, 64% of Americans no longer think that owning their home is a good investment. There has been some recovery in the housing market, but at least part of it is that wealthy people have bought real estate they plan to rent-rich dad, poor dad’s strategy of buying real estate for rent is no longer the way to rise, but for those who are already very wealthy. That said, this is another way to keep prices high.
On this weekend of July 4th, due to the early and wise investment in Bitcoin, at least one person no longer needs to worry about his house. The new homeowner reports on Reddit:
Two years ago, I bought one bitcoin at the price of repaying a 30-year mortgage every month and bought 300 bitcoins from a friend. Yesterday I paid off my mortgage and my family participated in the celebration on the 4th. Just want to express my gratitude to the Bitcoin community. It’s amazing to feel debt free on this Independence Day.
PS: In the past few years, I still have more coins.
Happy Independence Day, Bitcoin lovers…
Edit: In the next few decades, instead of paying it to the bank every month, I invested it to buy back more bitcoins. It feels much better than paying to the bank.
When Bitcoin was more unknown and undeveloped than it is now, this person took the risk and only paid six dollars for each Bitcoin, and now he is rewarded.
Is this possible for many people who are now struggling with housing and other financial issues there? Probably not. However, this may apply to some people. Despite a series of high-profile scandals, judging by the current number of wallets, the adoption rate of Bitcoin is still rising. More and more companies have launched “Bitcoin accepted here” posters, and venture capitalists continue Invest more and more bitcoins. In the funds of Bitcoin startups, banks have begun to conduct more serious investigations into Bitcoin, which is both a threat and a possible tool, and even China and Russia are getting rid of their tough positions.
Bitcoin’s trend is positive, so people who invest now are likely to see huge returns. I say that the only reason most people will not benefit from it is that most people will not take risks. It is important to note that there is no certainty here-the idea of investing more money in Bitcoin than you are willing to lose is never wise. That being said, for some Bitcoin manufacturers, such as the redditor above, Bitcoin may save the American dream.