Introduction

People used to own real estate because of its utility value, which is characterised by the fact that you can live in it or use it for production. Today, however, it serves the world as the primary asset for storing value. A former function of money that is no longer possible due to decades of monetary inflation that has decimated people’s purchasing power. This development coincides with the “Nixon shock” of August 15, 1971, when U.S. President Richard Nixon announced that the U.S. would end the convertibility of the U.S. dollar into gold. Since then, central banks around the world have started operating a fiat-based monetary system with floating exchange rates and no real…

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