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Blockchain Is Poised to Help Global Housing

November 28, 2018 / bigdataanalyticsnews

Since the recession, the real estate and housing industry has bounced back considerably. Market prices are higher than they’ve been for years, and estimates show continued growth along with renewed millennial demand. Yet even with an ever-improving market, things aren’t ideal. The ecosystem, as well as a variety of regulations, processes and legacy solutions within it, are plagued with issues. The most obvious is the time it takes to complete a real estate transaction, not including communications or back-and-forth negotiations between parties. There are other flaws too, of course. Real estate agents, for example, take a huge portion of money exchanged during a property transaction — up to as much as six percent in some cases. As a result, intermediary fees can balloon quickly, decreasing potential gains of a solid investment.