Vitalik Buterin
@vitalik.eth
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Venkatesh Rao ☀️
@vgr
The size of the US housing market is $52T, crypto is ~$1.65T globally. 30x diff. And demand for housing is mostly to live in or rent out. You can’t zero it out. If you don’t own you rent. A grimdark version of don’t buy houses is don’t have children. That actually subverts things whether you rent or own.
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Venkatesh Rao ☀️
@vgr
The speculating asset in the US is schooling more than real estate. Even childless people want to buy in good school districts to ensure resale value. But if enough people are childless that breaks down, housing prices rationalize whether you rent or own.
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