I think the mistake a lot of loud voices make about real estate and stocks is that they are looking at all things static but bitcoin. By that I mean that bitcoin will change the incentives of course but real estate and stocks will adapt because they have utility. Companies will always need capital they do not have. People will always need a place to live. How real estate functions as a market will change and I don't think anyone knows what it will be like. I do think they are right that it will not be as it is today. I agree that the idea of property being a place to park wealth will drastically change. But, we need to remember that even under hard currencies land had value and was a way of transferring wealth over time. The state is the main reason this isn't as feasible now. Bitcoin will affect the state and how it responds will greatly determine the way real estate is changed.