I sold my chairs. If you’re familiar with the Bitcoin meme, you know the joke: Bitcoiners apparently shouldn’t own chairs. You should be all-in on Bitcoin.
It’s a silly reference, sure, but I’m running with it. Now that I’m chair-free, what’s next on the life checklist? Maybe buying a house. Owning a piece of land somewhere. It’s the dream, right?
I’ve been a renter my whole life, paying more in rent than my parents or neighbors ever did on their mortgages. While that fact stings, it’s not surprising. And logical. I wasn’t able to get a mortgage at first. So I was happy that I could find a place to live.
The system seems stacked against anyone trying to transition from renting to owning in today’s world.
Navigating a Rigged System
Trying to own property in The Netherlands feels like trying to win a game where the rules keep changing mid-play. Older generations enjoyed generous mortgage interest deductions, stable prices, and a relatively straightforward path to wealth. Now, those benefits are fading, replaced by policies that feel punitive to newcomers.
Some of my friends did buy something nice. In their hometown, in a close city or even in Amsterdam. But it’s hard, and it comes with new problems.
Take the shift to taxing property in “box 3,” for example—a move that essentially treats a portion of your home’s value as net worth to be taxed. This is for houses you don’t live in yourself.
Box 1 (Wages, Tips, and Other Compensation) is all about the income the government wants a slice of for federal income taxes. Then there’s Box 3 (Social Security Wages), which is the chunk earmarked for Social Security taxes, and Box 5 (Medicare Wages), covering what goes toward Medicare taxes. It’s the same income, sliced and diced in different ways to keep the tax machine running.
I’m not currently in The Netherlands, but I had been considering buying a small apartment there—a modest place I could make pretty and then rent out. To me, it seemed like a practical solution: create something functional and appealing, and help someone who needs a place to live. And maybe along the lines profit from it, by living in it or selling it. But apparently, this is something “evil” now?
Among my peers, landlords are often painted as exploiters, no matter the circumstances. Even if you maintain the property well, offer fair rent, and treat tenants with respect, the nuance disappears. It’s as if owning more than one property makes you a villain by default.
I, for one, am happy that there was a landlord to rent a place from. That is still the case, just not in my home country.
That discussion makes it uninteresting for me to own just one property at the moment. Because I want to live somewhere else. I have the luxury that I can work from my laptop. I just require an internet connection to earn some income.
Pretty neat. But it comes with (first world) problems.
Nature’s Unpredictable Wildcard
Faced with these challenges, I’ve also considered sidestepping the Dutch mortgage mess altogether. Perhaps buying outright abroad, somewhere with an ocean view, would be better. But then I remember: nature isn’t concerned with my financial plans.
Storms, and environmental instability mean even the most idyllic property could become a fish tank. The notion of “stable real estate” falters when the land itself is subject to upheaval. And then I recently delved in to horror stories of people renting out their property and then being visited by some local ‘alternative governments’ for some protection money..
So: that is also difficult to manage. Buying and renting something outcomes with responsibilities, risks, issues and unforeseen costs.
The Boomer Legacy
The current Dutch housing crisis isn’t a random accident—it’s the result of decades of decisions that favored older generations. Boomers secured cheap homes, easy loans, and generous tax breaks. Today, their policies leave my generation paying for the mistakes without enjoying the benefits.
When I discuss this with my dad, who I love and deeply respect, he says, “I also had to work for it.” And he’s absolutely right. He drove buses, fixed roofs, and refereed football matches on weekends to make ends meet. He still does. His hard work provided for our family.
But explaining how the economic system has changed isn’t easy. Housing prices have inflated far beyond what hard work alone can tackle. To him, my frustration might sound like excuses. To me, it’s a recognition that the rules of the game have shifted.
Overthinking or Just Being Realistic?
So, what’s the move? Maybe I’ll keep renting forever. Perhaps I’ll stash my savings in Bitcoin, owning nothing but digital assets. While it sounds dystopian, at least Bitcoin offers an alternative to a system where wealth is tied up in overpriced, taxed-to-oblivion property.
For now, I’m staying flexible—watching the housing market, holding assets that aren’t bound by borders or inflation, and staying open to unconventional solutions. The future is uncertain, and perhaps that uncertainty is the only thing I truly own.
