That was before the hollowing from the American job market caused it to be increasingly hard to get and keep a good-paying job, or that banks began promoting ‘refinancing’ to let folks live off the ‘extra equity’ in their houses, or that banks began selling subprime mortgages allowing individuals to buy into more house than they should happen to be able to manage – sustainable so long as interest rates did not increase!
And then the subprime market fell and sabotaged the entire economy, an event the world has still not only still not recovered from, but with another fall increasingly looking like it is in route. There’s little wonder that according to some reports 64% of Americans no more believe that owning your home is an excellent investment.
On this Fourth of July weekend, at least one person no longer has to concern yourself with his house as a result of an early and bright investment in Bitcoin.
2 years past for the cost of 1 monthly payment of my 30-year long mortgage I took a chance on bitcoin and purchased 300 bitcoins from a buddy. Yesterday I paid off my mortgage and have chosen the entire family out to celebrate on the 4th. Only wanted to express my thanks to the Bitcoin community. It’s amazing to feel debt free with this Independence day.
As an alternative to paying the bank each month for another few decades, I ‘ll put it back into buying back more bitcoins. This man took the threat with Bitcoin when it was even more unknown and undeveloped than it’s now, paying only six dollars per bitcoin, and is currently reaping the benefit.
Is this a chance for the a lot of people who right now out there fighting with home and other fiscal issues? Likely, no. It can be for some, however.