>homeowners can liquidate a percentage of their equity in

>Does this make sense?
In that it's a thing that could be possible, sure. You're effectively securitizing your property and then selling shares. You would no longer own all of your house.
>Wouldn't you need to post your mortgage or something?
That depends on them.
>Wouldn't the bank protest the fact that their collateral is being sliced up and sold?
That depends on the bank and the mortgage contract you have with them. I would think they would likely have an issue, yes.

>>3241164
The whitepaper reads very promisingly at least.
https://www.amazon.com/clouddrive/share/zZunZvCb8u7KZjxHj3Aiz1SmVMWh4HOODpnu72kobER/78PYavMFT2SjhkzDa9rtNQ?_encoding=UTF8&*Version*=1&*entries*=0&mgh=1

They're starting out in Silicon Valley where the main people behind this ICO live.

Gonna clear my head and read up some more. Hope this isn't a scam, it looks promising.

>>3241292
>it looks promising.
Just not sure yet if it's "balls deep" promising, or "500 bucks" promising.

>>3241292
If I want to invest in real estate, I'll just buy shares in a REIT.

>>3241308
>tfw 500 is balls deep for me

>>3241328
Nice reading comprehension.

>>3241318
The whole point of crypto is not having to rely on trusts and banks n sheeit.

bunb

>>3241098
Ohhh no, no more more subprime mortage shit.
Don't want to create another subprime mortage 2.0.

You know what happened...

"Just sold my house for crypto!!!!!"

That will end well.

>>3241098
>does this make sense?
nope

>>3243047
I think you already have the mortgage, you're just loaning OUT a piece of the equity you have in your house.
The home owner doesn't increase his debt.

>>3243068
The principle doesn't sound too bad I think. Only way you can make use of your home's equity otherwise is to sell it.

>>3243172
Why would I liquidate my home to crypto instead of something stable like USD?

.....unless I felt I could avoid taxes or scam the system by not really giving anything up doing so. Both will end very badly.

So you liquidate your house, spend all the crypto on drugs, then what? Does some chinese thug come over and just confiscate part of your house?

>>3243208
>Why would I liquidate my home to crypto instead of something stable like USD?
Whitepaper says the crypto method allows for people to even invest small dollar amounts because of the tokenization.
Also, no need for fund managers and banks etc.

>>3243232
When you sell, you have to pay back the part you liquidated. I imagine there would be contracts.

>>3243047
>>3243172
>you're just loaning OUT a piece of the equity
This is wrong, sorry.
It's late here in Europe.

But this system is not a mortgage, it's a home equity loan. You're "loaning" against the part of the house you already paid off.

>>3241098
lets assume someone owns their house outright without a mortgage or any other liens to get in the way and they sell you tokens equating to 10% of the estimated value of the house. what benefits do you derive? is it like a time share? do you only get the value of the equity? do you have to share a relative percentage of costs such as maintenance and property tax?

I could see something like this possibly working out way down the line but only in a highly commoditized apartment market where there was income attached from rental. And at that point just buy a REIT, because if you want a click and point investment in property you need someone else to centrally manage it or you're going to end up working for your money somehow. It isn't something that the average person has the time or knowledge to manage on their own on a peer to peer basis. This is in a vacuum where laws don't apply by the way. In the real world it's even more puzzling.

>>3243633
>what benefits do you derive?
You get the monetary value of that share of the equity I guess.

>only in a highly commoditized apartment market where there was income attached from rental.
According to the whitepaper, their plan seems to be for anyone to be able to invest (even only a couple of dollars' worth), and for any home owner to be able to sell (even people owning small homes).
They're going to start in silicon valley where they live, and where house prices are very high.

> just buy a REIT
My guess is that doing this via crypto tokens means you get the inherent advantages of crypto over the conventional banking/financial industry.
On the other hand of course, real estate operates in a completely different universe compared to crypto, so how these two very different worlds are going to be married is to be seen.
A good sign is them starting small, and having a very specific starting use case in mind.