I'd rather the American real estate industry be reformed first, before bothering with payments in Bitcoin. My mortgage keeps going up and I'm gonna punch someone in the face, because they know I'll eventually be unable to afford it. Then I'll foreclose, they'll sell it to another sucker, and the money keeps on flowing.
With that aside, a title company seems the best way to go. At least until Bitcoin is as widely known as the dollar.
Sounds like you need to talk to a professional about your mortgage. The price should never be going up unless you have some weird ARM, and even then, everyone I know with a ARM is seeing their payments go lower and lower.
In the long term I think there is a tiny chance that this will happen. Currently I think it's hard though. Why would I lend money to someone buying a home? BTC is increasing hundreds of percent per year, there's no way the person can earn enough to service the debt...
I think equity is a better way to deal with real estate. It's been 50-75 years since people had any equity. If it wasn't for all this Fiat currency, we'd have equity, not debt, attached to real estate.
There is certainly a equity issue in the US but it has almost nothing to do with fiat and EVERYTHING to do with the prevalence of the 30 year mortgage.
The average homeowner in the US sells their property every 7 years. By this point utilizing a 30yr mortgage (At 5%) the homeowner has paid down a total of 14% of the original balance of the property. If the home has appreciated by 5%/yr (Which is median for the US as a whole) the homeowner then has about 49% equity in the property. Just 30 years ago, the 20 year mortgage was what everyone had. In the same scenario the homeowner by year 7 has paid down nearly double of the principal as a 30yr mortgage. So, with annualized 5% appreciation, the homeowner now has 65% equity in his home.
When/if the market tanks, the difference between a 30yr and a 20yr is even more striking - The guy with a 30yr mortgage has no option but short sale/foreclosure. The guy with the 20yr mortgage can sell his property at the depreciated rate in nearly every case and still put a few thousand in his pocket. This is EXACTLY what we've seen in the US from 2004 onward with the lead up, and post-crash society. If 20yr mortgages or 15yr mortgages were the norm there would have never been a foreclosure-led crash from homeowners underwater, prices can expand/contract with much less harm to people.
What you need is a bank that is willing to take bitcoin for mortgage payments...they could put in minimal effort and just bitpay, but some one needs to bring the idea to a bank.
You could do it with coinbase already, you just need to link your traditional bank up with your CB account and set it up on a monthly liquidation/autosell. You're still exposed to fiat risk but you get the opportunity to pay with BTC should you so desire.
We (Rentalstarter) are going to be offering private money mortgages to homeowners via bitcoin/fiat on all our properties. It's a long play but it will be worth it.
People might also want landlords who accept btc.
I think that people should see if their landlords are willing to accept btc. If they seem interested but aren't very tech capable, offer to help them set up their payment system.
The big hurdle with landlords in many cases is that the median age in the US is getting higher and higher. In my area the median landlord age is 60+ which means very low acceptance of new technology. Granted it represents a phenomenal opportunity for young and tech-oriented people.
