The housing market is crashing. Unless the fed decides to lower interest rates a lot, and in a hurry, it looks inevitable.
We are at, are or close to, the next bull run in cryptos.
So, we are looking at some criss-cross market action that could be advantageous if you are looking to get into a house.
Since the Infernal Revolting Syndicate has currently classified cryptos as a commodity, several people have suggested that you could trade it directly for a house. As in a barter situation.
Not converting the crypto to cash and then to a house.
There have been several legal professionals whom have stated they will go to court to defend this position.
You should be able to trade one asset for another, legally speaking.
But we all know how the Infernal Revolting Syndicate is. They want their piece, no matter how much the constitution says they can have it or not.
The other problem would be escrow and title.
I do not know an escrow company that is set up to hold and transfer crypto.
But, there will be a first time.
I look forward to it.
Do any of you have a great deal of knowledge in the area of barter?
As long as the items are of equal value, then it should be a non-taxable event.
BUT, the Infrernal Revolting Syndicate does everything but state you HAVE TO convert everything to cash.
I do know some yachts were sold for bitcoin.
But i do not think any of that was done in The US.
I remember some stories from many years ago about people selling houses in California for Bitcoin. I think it was 2014 or so if I remember correctly.
I believe you are correct. I will have to look into it, and see if they actually swapped directly.