Feb '06 median Ventura County home: $680k
Price of gold: $560/oz.
Median home price in gold: 1214 ounces.
Oct '09 median Ventura county home: $419k
Price of gold: $1000
Median home price in gold: 419 ounces.
Oct 2009 value of the gold you bought in 2006 after selling your house: $1,214,000.
Oct '12 median Ventura county home: $415k
Price of gold: $1750
Median home price in gold: 238 ounces.
Oct 2012 value of the gold you bought in 2006 after selling your house: $2,124,000.
Not bad.
5 comments:
Good to see you back!
I've looked at the same thing and it's amazing how stable house prices in gold are over time.
I paid for my house a few years ago about as many ounces of gold as my parents paid for their house back in the 70's.
Try it - it's fun!
There's only one constant: dollar debasement.
My tungsten didn't do nearly as well.
W.C. Varones,
I've looked at the same thing and it's amazing how stable house prices in gold are over time.
Median Sales Price of Houses Sold for the United States / Gold Fixing Price 10:30 A.M. (London time) in London Bullion Market
That's stable? Seriously?
Well, the peaks and troughs are at roughly the same levels, spaced apart by about 30 years.
Yes, there's been a lot of volatility in that period, but gold has been a fantastic store of value over the long run.
Houses, too, except for the maintenance, insurance, and taxes. You'd have to do a total remodel on that 1980 house to restore it to its 1980 value in gold.
"You'd have to do a total remodel on that 1980 house to restore it to its 1980 value in gold."
This is my second biggest issue with the Case-Shiller 1890-2012 inflation adjusted claim of 1% per year. The 1890 house didn't have plumbing never mind electricity. The 2012 house needs 250 amp service and fiber optic.
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