Viewpoint

Prepare for bitcoin-backed mortgages and a shortage of pants in 2022

A real estate sign is pictured in Vancouver on June 12, 2018. Jonathan Hayward/The Canadian Press.

To close out the year, we’ve asked our contributors and staff to make a prediction about 2022. You would think, at least since the early days of 2020, that we’d have learned our lesson about making predictions, but we couldn’t resist. Feel free to save these if you want to embarrass us with them later.


Prepare for the bitcoin-backed mortgage in 2022

By Chris Spoke

I’ve got two big bitcoin-related predictions for the new year.

First, the price of bitcoin will surpass $100,000 CAD in 2022, and second, we will also see the first purchase of a home in Canada using a bitcoin-backed mortgage.

Here’s how that will work.

Let’s imagine a house priced at $1,000,000. Someone will stake $1,000,000 worth of bitcoin to access a bitcoin-backed mortgage of $1,000,000 to cover the full cost of the house.

The house will then also become security for the mortgage so that we’re really dealing with a bitcoin-and-house-backed mortgage.

And it will be the first of many more to come.

Chris Spoke is a real estate investor and the founder of August, a Toronto-based agency that designs and builds digital products.


There will be a supply-chain shortage in clothing in the new year

By Rob Leone

There will be a broader return to work desire in the Fall of 2022.  Enterprising individuals have spent two years perfecting the business-above-the-waist, party-below-the-waist business attire (former MP Will Amos maybe perfected it a little too well. That is why my prediction is that there will be a supply chain shortage in business attire for men and women from the waist down. You won’t be able to find pants, skirts, and more, which will inevitably delay the full return to work to sometime in 2023. Shorts, flannel PJs, and leggings, and more (or less) will continue to get a few extra seasons of wear before getting relegated to a box in the attic.

Rob Leone holds a PhD in public policy and serves as an Associate Professor of Leadership and Policy at Niagara University in Lewiston, NY. In addition, he is a Principal at Earnscliffe Strategy Group in Toronto.

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