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Okanagan man trading home for Bitcoin in red-hot real estate market – Global News

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An Okanagan man is listing his home early next week, however, it will not be sold for cash. 

Instead, Jay Johnson will be trading his home for cryptocurrency.

“I decided to put my house up for sale and I wanted to do it in a way that’s radical,” said Jay Johnson, a Kelowna resident.

“I’m putting it on the market for Bitcoin, in exchange for Bitcoin.”

Read more:
Bitcoin’s carbon footprint could be offset by blockchain’s green applications, experts say

Johnson says he was motivated by tech moguls such as Elon Musk and the progression of Bitcoin in the past year.

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“There’s excitement and apprehension of course because people tell you you’re a little crazy,” said Johnson.

“I believe in this technology so much, I am not an innovator by any means, but I’m an early adopter. So I feel I’m going to be rewarded for that.”

So exactly how many Bitcoins will get you this house? 

Tamara Stone, Johnson’s realtor, says it’ll take more than just a couple.

“12.25 Bitcoins and this house can be yours,” said Stone, a RE/MAX Kelowna realtor.

“Never in my 25-year career have I had someone want to sell their home for Bitcoin. We had to do a bit of a calculation, figure out what’s market value, which is about $850,000.”

Read more:
Tesla cars can now be bought with bitcoin, says Elon Musk

Currently, a single Bitcoin is worth nearly $71,000 dollars.

Before negotiations could begin, Stone said she had to check with her legal team to see if it was even possible — turns out it is completely legal.

Johnson says once the house is sold, he is planning on living a more nomadic lifestyle.

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“I want to live in a teepee at one point, and I know it sounds pretty out there,” said Johnson.

And the hot real estate market tells us lots of people are also looking for houses in the Okanagan right now, which means Johnson’s unconventional plans could work out.


Click to play video: 'What are non-fungible tokens or NFTs?'



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What are non-fungible tokens or NFTs?


What are non-fungible tokens or NFTs? – Mar 10, 2021

© 2021 Global News, a division of Corus Entertainment Inc.

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

The Canadian Press. All rights reserved.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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B.C. voters face atmospheric river with heavy rain, high winds on election day

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VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.

Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.

The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.

Wednesday was the last day for advance voting, which started on Oct. 10.

More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.

Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.

An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.

This report by The Canadian Press was first published Oct. 17, 2024.

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