this post was submitted on 28 Jan 2024
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Gold for house (lemmy.ca)
submitted 10 months ago by n7gifmdn@lemmy.ca to c/memes@lemmy.ml
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wood for sheep?

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[–] Ghostalmedia@lemmy.world 197 points 9 months ago (23 children)

This isn’t actually true. In the US, housing has outpaced the value of gold.

In 2023, you would need 254.7 ounces of gold to buy a house, since $495,100 avg home / $1,943 price of gold = 254.7

In 1920, you would need 164.1 ounces of gold to buy a house, since $3,395 avg home / $20.67 price of gold = 164.1.

[–] Numhold@feddit.de 22 points 9 months ago

And let‘s not forget that the average home in 1920 was way more modest than today‘s average home.

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