Forgive me if this is a simple/stupid question - just having some trouble working it out in my head. Supposing a stable currency, a fully-developed Bitcoin, for instance, would there be any incentive to take out a loan for high-cost, non-appreciating assets? Supposing that merely holding on to the currency would result in an increase in purchasing power due to the cost reduction of goods and services, would it ever make sense to say, borrow Bitcoin to buy a house?

In other words, I understand the incentive to borrow to buy assets that would appreciate at a greater rate than the currency, but what about simply a place to live? Would this cause people to rent until they could buy out-of-pocket?