Here's how it could play out...

Higher interest rates stagnate the economy and bankrupt everyone, only this time the central banks don't come to the rescue with QE and ZIRP. Instead, the government attempts to confiscate all real-estate in "the great taking" and leases it to the population, only accepting CBDCs for rent.

Eventually the people revolt, take their property back, with each physical structure being tokenized on a decentralized blockchain, where fractional ownership becomes a reality. The houses are priced in Bitcoin, but other cryptocurrencies that have gained widespread adoption can be used to purchase them as well.

Just a thought. Tumultuous times ahead.