https://image.nostr.build/22a382006d349c4201a7c5b676b032c60c1160f4909c822f24e7ab25bc143cf1.jpg As I approach my 40th birthday, I find myself in a peculiar position. I'm a self employed entrepreneur, and a leader in my family and my company. I'm part of a generation that's supposedly destined to be worse off than our parents. It's a sobering thought, and one that was recently brought into sharp focus during an interview with Robert F. Kennedy Jr.
Kennedy, an independent candidate for the U.S. presidency, mentioned something that hit close to home. He has a son who's 40 years old – just a year older than me. This son, Kennedy proudly stated, owns a home. But then came the kicker: his six younger children, all with great jobs and educated at top schools, have no hope of getting into the housing market.
As I read through the transcript of Kennedy's interview, I couldn't help but see parallels with my own life and those of my peers. So, let's dive into this generational economic conundrum and see if there's a way out – possibly through the very technology we discuss every day in this newsletter.
https://image.nostr.build/d98605c21e13af7aa54453e003a7e54495d776ba81faf2ed441da54f347aeedb.jpg The Housing Nightmare
Kennedy paints a grim picture of the housing market:
- Mortgage rates have doubled in just four years
- The average home price has exploded from $215,000 two years ago to over $400,000 today
- Interest rates have soared from 3% to over 7%
Reading these statistics, I'm reminded of my own struggles with housing. Despite running a successful business, the idea of owning a home sometimes feels like a pipe dream. And I know I'm not alone.
The Equity Trap
Without home ownership, we're missing out on a crucial source of equity. It's not just about having a place to call our own; it's about having a stake in our communities and a launching pad for our ambitions. As Kennedy points out, this equity gap is closing doors for entrepreneurship and full participation in the capitalist system.
I can't help but wonder: how many potential world-changing businesses are never started because their founders can't access the equity in a home? https://image.nostr.build/a7c7e864966d0f8617525e934c126d1d94a49210380f92da58930010002f7896.jpg The Corporate Land Grab
As if the situation wasn't dire enough, Kennedy highlights how large investment firms like BlackRock, State Street, and Vanguard are snapping up single-family homes. Are we destined to become a "nation of renters," as Kennedy fears? The thought sends a shiver down my spine.
A Bitcoin-Shaped Light at the End of the Tunnel? Now, here's where things get interesting for us Bitcoin enthusiasts. Kennedy proposes a solution that's music to my ears: leveraging Bitcoin to restore economic strength. His ideas include:
- Having the Federal Reserve and Treasury purchase millions of Bitcoins
- Using Bitcoin as a basis for the American dollar
- Making Bitcoin transactions non-taxable
As someone who's been in the Bitcoin space for years, these proposals are exciting. But there's more to the story that gives me hope, and it's hidden in plain sight within Bitcoin's price action.
https://image.nostr.build/616e0f35271ba8525cf044feeada54ef73f576eeb6dba74f06b456be1513b7ad.jpg The Bitcoin Housing Phenomenon
While researching for this article, I stumbled upon a fascinating trend that made me sit up straight in my chair. Despite the gloomy housing market statistics, there's a silver lining for those of us who've been stacking sats:
- Since 2020, average U.S. home prices have increased by about 28% in dollar terms, according to the St. Louis Fed.
- But here's the kicker: In the same period, Bitcoin's price skyrocketed by over 600%, from around $10,000 to over $60,000.
What does this mean for us? Even though dollar-denominated house prices have gone up, the price of houses in Bitcoin has actually decreased significantly!
Let that sink in for a moment. While we've been lamenting our inability to get on the property ladder, those of us who invested in Bitcoin have actually seen our housing purchasing power increase dramatically.
This phenomenon illustrates two crucial points:
- Bitcoin's potential as a hedge against inflation and asset price increases
- The importance of thinking beyond traditional financial metrics
It's a stark reminder that while the rules of the game might be stacked against us in the traditional financial system, Bitcoin offers an alternative playing field where the odds might be more in our favor.
https://image.nostr.build/90a3b9490341718c9c99adcd8c62fa5a3c7a739ff92a75ed4d35d067a824650c.jpg So, Is It Really Too Late for Us?
As I sit here, on the cusp of 40, I can't help but feel a renewed sense of hope. Yes, the challenges we face are real and daunting. The traditional paths to financial security seem increasingly out of reach. But the Bitcoin housing phenomenon shows us that there might be alternative routes to achieving our financial goals.
The question is no longer just about whether we can push for policies that will give us a fighting chance at the economic security our parents enjoyed. It's also about whether we're ready to embrace a new paradigm of wealth and value storage that Bitcoin represents.
Are we, as a generation, prepared to think differently about money, savings, and investment? Can we leverage the unique properties of Bitcoin to create our own path to financial security?
https://image.nostr.build/9cc67f89b044c49f6bdf75d086e64e40e28a4870c165e7a1677d26a1707834eb.jpg As we navigate these uncertain waters, one thing is clearer than ever: we need bold, innovative thinking. Whether it's through Bitcoin adoption, reimagining our relationship with traditional assets, or finding entirely new ways to build and preserve wealth, we must find a way to ensure a prosperous future not just for ourselves, but for the generations that follow.
So, dear readers, I put it to you: How has your perspective on Bitcoin changed in light of these housing market comparisons? Are you viewing your sat stacking as a potential path to homeownership? And more broadly, how are you leveraging Bitcoin to secure your financial future in these challenging times?
Let's continue this conversation in the comments below. After all, if we're going to change our economic destiny, it's going to take all of us working together and thinking outside the box.
A Final Note
Before I sign off, I want to address something important. You might be wondering why you haven't heard more about Robert F. Kennedy Jr.'s stance on Bitcoin and his economic proposals in the mainstream media. The truth is, as an independent candidate, Kennedy doesn't receive as much press coverage as some of the other presidential hopefuls.
That's why I believe it's crucial for us, as informed citizens and Bitcoin enthusiasts, to seek out information from various sources. If you're interested in hearing more about Kennedy's views on Bitcoin, the economy, and the challenges facing our generation, I highly recommend checking out the full interview conducted by Natalie Brunell.
You can watch the interview here: RFK Jr. interviewed by Natalie Brunell @npub1ahxjq4v0zlvexf7cg8j9stumqp3nrtzqzzqxa7szpmcdgqrcumdq0h5ech
Regardless of your political leanings, I think you'll find the discussion thought-provoking and relevant to the economic issues we've explored in this article.
As always, stay curious, stay informed, and keep the conversation going. Your voice and your votes matter in shaping the future of our economy.
Until next time, keep stacking sats and holding onto hope. The future might be brighter than we think.
Joe Thomas Founder, The Bitcoin Blok