In Wallonia, the new government has become aware of the social emergency linked to the housing crisis: it has reduced registration fees for first-time buyers from 12.5% to 3%. A strong gesture that reflects the magnitude of the problem.

But one question remains:

Why has real estate become so expensive, far beyond its usage ?

Real estate: use + store of value

Real estate plays two essential roles:

• A concrete use (housing, work, produce),
• A financial function (to serve as a store of value).

In a world where money is losing its purchasing power (that is, its value), individuals seek to protect their savings (in other words, the energy granted in receipt of money) in rare, physical and tangible assets.

Real estate then became a tool to protect against the automatic devaluation of one's savings and therefore a haven for capital.

But this mechanism has a perverse effect:

Capital is frozen in stone.

Result:

• Prices that are soaring
• An offer that is becoming rare
• Less capital for economic development
• And entire generations watching the property go away

What if Bitcoin changed the situation?

Bitcoin is not real estate. But it has characteristics similar to the best reserve assets:

• Absolute rarity (21 million units, not one more)
• No maintenance costs
• No property tax
• No rental management or physical constraints
• Global mobility and liquidity

In other words: Bitcoin is a new form of “digital capital”: scarcity, security and freedom combined in the same asset.
In the long term, it could well become an alternative to real estate as a store of value.

A speculative pressure that could move

If some of the capital that is now stuck in stone moves to Bitcoin, this could:

• Alleviate speculative pressure on real estate.
• Free up homes for real use.
• And give homeownership a chance again, especially for younger generations.

As @Natalie Brunell explained in his podcast Coin Stories, Bitcoin could become a catalyst for social transformation, by rebalancing the function of capital between use and reserve.

Conclusion: giving back access to property

This transition will not happen overnight. But it has already begun.

As Michael Saylor summarizes:
“For the first time in human history, we can grant property rights to eight billion people.”

For many, Bitcoin embodies hope: that of a new form of capital that is more accessible, more fluid, and perhaps the lever for a future where ownership becomes possible again.

And hope matters.