Median U.S. Home Expected to Drop to 4 BTC by End of 2024

Contributed by Adaptive Analysis.

Real estate has always been a desired asset worldwide. While other asset classes like stocks, bonds, commodities, precious metals, and crypto are attractive to specific segments of the population at certain times, they do not have the same universal appeal as real estate.

For the average consumer, home ownership is the goal. For the wealthy and business savvy, expanding real estate portfolios and identifying profitable opportunities are the main objectives. Regardless of where a person falls on the spectrum, real estate has always been a hallmark of the global asset market.

But the dynamics of homeownership are changing. It’s more expensive than ever for people to turn their dreams of buying a house into reality. Rampant inflation, interest rate hikes, and global supply chain constraints are all pushing up prices. US house price increases are outpacing the run-up to the 2008 housing crisis. 

Source: fred.stlouisfed.org

The prospect of home ownership may become unattainable for a growing portion of the US population. But it may be a different story for Bitcoin holders. While the median housing price in the US currently stands at roughly 16 BTC, analyst Tuur Demeester anticipates that this will drop to 4 BTC by the end of 2024. 

A median house in the US is currently priced at around $428k which would work out at roughly 20 BTC at the current trading price of $21k. Demeester’s forecast is obviously dependent on a strong recovery in the price of Bitcoin, which is around 70% off its November 2021 high.

However, with a series of higher highs and higher lows forming since mid-June, the market may already be finding its bottom. There will also be another block subsidy halving in March of 2024 with such events normally coinciding with widely bullish anticipation.

The evidence paints a promising picture for Bitcoin holders. Those who have invested significantly may see their patience pay off in the form of affordable housing. However, as with any market, there may be unanticipated developments that change forecasts.

Source: https://coinfomania.com/median-u-s-home-expected-to-drop-to-4-btc/