Amazon
$20,000 Tiny Home on Amazon Goes Viral As Buyer Tests ‘Viable Option’ for Priced-Out Masses
Published
3 months agoon
By
adminA viral video may highlight a “viable option” for the millions of Americans who can’t afford to buy a home, according to a new report.
Nathan Graham recently went viral after purchasing a tiny home on Amazon that sells for as little as $20,000.
The video, which has surpassed 32 million views on TikTok, shows a seemingly surprised and impressed Graham unboxing the foldable home.
The unit comes with a kitchen, a shower, a toilet and all the necessary plumbing – but all electrical wiring needs to be done by a professional.
Newsweek says some experts believe tiny homes, often referred to as accessory dwelling units (ADUs), offer a viable solution that could ease some of the pain in America’s housing market.
Says Redfin Chief Economist Daryl Fairweather,
“Tiny homes and [ADUs] that add density to an area can help make neighborhoods more affordable to people who may otherwise be priced out.
I think of ADUs as one tool in our toolbox to promote housing density, especially when combined with policies that promote building more multi-family housing. That’s when we can see real progress in bringing down housing costs for all families.”
Legislation supporting ADUs has passed in Connecticut, Maine, New Hampshire, Oregon, Utah, Vermont and Washington.
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A Crash Like Amazon’s? This Scenario Could Push Bitcoin Back To $10,000
Published
8 months agoon
August 29, 2023By
adminBitcoin (BTC), the leading cryptocurrency in the market, has experienced a significant decline since mid-August, resulting in a stagnant price within a newly formed range. This decline has occurred amidst what many believe is an extended bear market in cryptocurrency, causing concerns about the future of Bitcoin’s bull cycles.
Bloomberg Intelligence’s Senior Macro Strategist, Mike McGlone, has drawn attention to the current similarities between BTC’s trajectory and the infamous crash of Amazon in the 2000s during the “Dot Com Bubble.”
McGlone’s analysis emphasizes the importance of learning from history and highlights the potential risks if retail investors flood the market, causing Bitcoin to become overbought.
Bitcoin Resemblance To Amazon’s Crash
Bitcoin’s remarkable growth potential is exemplified by its journey from trading at $1 in 2011 to its current value, representing a surge of 26,000 times. In comparison, Amazon, a prominent tech giant, achieved a 130-fold increase over a similar period, but it took approximately 25 years.
To further illustrate the parallels between Amazon and Bitcoin, during the dot-com boom in the 90s and early 2000s, Amazon capitalized on customer growth and adept capital fundraising to expand its product offerings.
Starting as an online bookstore, it rapidly evolved into a vast online retailer, connecting customers with a diverse range of products.
Amazon’s valuation soared during this period, reaching over 50 times its Initial Public Offering (IPO) value in December 1999. However, the exuberance in the market was short-lived.
The “Dot-Com Bubble” bursting led to a sharp decline in the Nasdaq Composite, heavily influenced by technology companies, from its peak in March 2000.
As the “Dot-Com” crash unfolded, numerous companies struggled to sustain their business models or secure sufficient funding, resulting in their closure. Even prominent start-ups like Pets.com and Kozmo, in which Amazon had invested, succumbed to the downturn.
As a result, Amazon’s stock experienced a significant decline, losing more than 90 percent of its value over two years.
The lessons learned from Amazon’s rise and subsequent crash serve as a cautionary tale for Bitcoin. McGlone warns that the entry of retail investors into the market increases the risk of overbuying and market saturation.
When an asset becomes excessively hyped, prices can detach from their underlying value, setting the stage for a potential correction. Retail investors, driven by Fear of Missing Out (FOMO), may overlook fundamentals and blindly chase price momentum, further exacerbating the risk of a downturn.
Furthermore, the expert noted that Bitcoin’s increasing correlation with equity prices raises concerns. The current high correlation between Bitcoin and equities indicates a growing interdependence between the cryptocurrency and traditional markets.
As Bitcoin moves into the mainstream rapidly, it becomes more susceptible to broader market forces. This amplified correlation could magnify the impact on Bitcoin’s price in a market downturn.
Despite Bitcoin’s current value of $26,000, McGlone warns of the possibility of a drop to $10,000, which could have significant consequences.
It could trigger a shift in market sentiment and result in significant losses for latecomers who entered the market during this year’s peak.
Bitcoin (BTC) is trading at $26,000, reflecting a marginal decrease of 0.3% over the past 24 hours and the seven-day time frame.
Featured image from iStock, chart from TradingView.com
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