Fidelity: Actually, Homes Are Getting Cheaper (as Long as You Price Them in Bitcoin)

Are you priced out of the housing market? No you’re not, you idiot. You just aren’t using the right kind of money.

That’s the argument of an article from July 6 on the Fidelity Digital Assets site—in other words the crypto division of one of the world’s largest asset management companies.

The post, by a researcher named Zack Wainwright, is basically saying that, if tallied in a strong currency like bitcoin, houses are actually nice and cheap. In a sane parallel universe where we price assets in bitcoin, maybe there’s no affordability crisis at all, man (exhales bong smoke).

Wainwright made a video to go with the article:

The average house, Wainwright notes, has gotten ten times less expensive since 2020, assuming you denominate the price in bitcoin. His point boils down to this:

“Simply put, on the Fidelity Digital Assets research team, we believe […] that housing is not getting more expensive. It is the currency that is getting weaker. It is the unit of account, not the asset.”

It’s just common sense that as fiat currency grows sickly and declines toward its inevitable death, anyone looking to preserve precious capital needs to invest in what the article calls “scarce, non-sovereign assets.” Like, uh, homes for instance?