The US economy still doesn’t look colorful because citizens and small start-ups are trying to abide by governmental rules on Covid-19 blockades.
According to the last one Boom Bust podcast, more than 45 million Americans, in just 13 weeks, have applied for unemployment benefits, and approximately 4.3 million citizens are unable to pay their mortgages.
Through all restrictions and restrictions, the US real estate industry has found itself in danger, and home sales and property values have dropped significantly.
Wealthy investors, however, benefit from falling prices on the global housing market.
Adoption of cryptocurrencies increases the demand for real estate
According to co-hosts Boom-Bust, Cristie Ai and Ben Swann, real estate agencies in markets that are popular with foreign investors, including California and Florida, are gradually beginning to accept cryptocurrencies.
The increase in acceptance of cryptocurrencies in the housing sector is probably due to the desire to attract the attention of foreign investors and home enthusiasts who prefer to pay with digital currencies.
In addition, the convergence of enormous incentives from the US Federal Reserve and the prospect of economic recovery as the economy opens in the coming months may result in increased demand in the US housing market.
The growing interest in US real estate by Chinese investors has also fueled interest in bitcoin, which is seen as new digital gold. It is a relatively stable storehouse of values and a hedge against inflation.
Other brokers see the possibility of using cryptocurrencies, especially in the global real estate sector.
For example, the international real estate market called ‘Propy’ maintains a decentralized register of property titles and creates a place for transactions based on blockchain.
The introduction of smart contracts on blockchain platforms allows tokenization of assets such as real estate, as well as crypto trading such as BTC and ETH.
BTC will gain popularity because trust in traditional systems is diminished
At Boom Bust Podcast, Cohost Cristie AI says that BTC, which is a decentralized currency and cannot be restricted by the government, will be increasingly popular among investors delving into the real estate industry.
Cases of gold counterfeiting in the reserves of the Indian bank and in JP Morgan’s vaults have led to a decrease in confidence in relation to traditional monetary systems.
The Lebanese pound lost over 80% in just 10 months, causing many citizens to turn away from traditional systems such as banks and SWIFT, preferring to store their crypto investments instead.
Digital currencies are gaining in importance, as exemplified by the recent US Congress decision to look at the digital dollar to distribute rescue funds in times of crisis.
Reporter Ben Swann said Paypal’s entry into the digital currency market could make crypto more accepted by corporations and the general public.