The prospect of Bitcoin dating US housing sector raises eyebrows as crypto adoption in the real estate sector is still at a nascent stage. However, if we look at the latest figures, it seems that the crypto is entering the real estate sector of the United States big time.
The COVID-19 lockdowns have caused large-scale disruptions in the US economy. Many states are reporting unprecedented unemployment with industries across many sectors closing shutters. Approximately 45 million Americans are out of jobs. The government’s stimulus isn’t making things any better.
The prospects in are real estate sector is also looking bleak as mortgages defaults are on the rise. Home sales are in jeopardy, and property prices are plunging across the country. It is 2008 all over again. However, many wealthy investors are making the most out of this opportunity to splurge on high-value properties.
And new crypto millionaires aren’t shying to buy real estate in a pandemic-ridden world. With crypto adoption rising in real estate, Bitcoin dating US housing sector makes that much more sense.
Bitcoin dating US housing sector opens up many possibilities
In a Podcast of Cristie Ai and Ben Swann of Boom-Bust, various real estate firms based in California and Florida are now accepting payments in cryptocurrencies. The real estate listings in these housing destinations are top-rated among foreign investors.
The rising trend of crypto payment options in real estate listings spurs from a desire to attract international clientele and also local investors. Real estate companies believe that massive stimulus by governments across many countries and a prospect of quick economic recovery can fuel growth in the US housing market. It seems that the phrase ‘Bitcoin dating US housing market’ may very well be true.
Attracting international investors with crypto payments
Chinese investors have a deep interest in the US housing market. The cryptocurrency payment option is geared to attract these investors. Besides crypto, blockchain is also making significant inroads into the real estate sector. Propy, an international property player, has created a decentralized title registry system. Propy also offers blockchain transactions on its platform.
Blockchain smart contracts have helped to tokenize the real estate market. Just like cryptocurrencies, these assets can be traded relatively quickly in comparison to the real world. Bitcoin, being a borderless currency, appeals to many international investors who want to buy a house, albeit with transparency.
Moreover, confidence in fiat currencies is reaching new lows. For example, the latest Chinese fake gold scandal has shown the downsides to the conventional monetary system. No wonder Bitcoin dating the US housing sector would benefit the local real estate industry.