n7gifmdn@lemmy.ca to Memes@lemmy.mlEnglish · 5 months agoGold for houselemmy.caimagemessage-square3fedilinkarrow-up10arrow-down12file-text
arrow-up1-2arrow-down1imageGold for houselemmy.can7gifmdn@lemmy.ca to Memes@lemmy.mlEnglish · 5 months agomessage-square3fedilinkfile-text
minus-squareGhostalmedia@lemmy.worldlinkfedilinkEnglisharrow-up1·5 months agoThis 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.
minus-squareRealFknNito@lemmy.worldlinkfedilinkEnglisharrow-up0·5 months agoFuck, even the gold isn’t safe.
minus-squareTak@lemmy.mllinkfedilinkarrow-up1·5 months agoGold isn’t terribly useful as a metal. Sure it’s valuable but mostly because people see it as valuable and perceptions can change. Everyone needs a place to live and on top of that land can be used for making money even if land itself isn’t as lucrative.
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.
Fuck, even the gold isn’t safe.
Gold isn’t terribly useful as a metal. Sure it’s valuable but mostly because people see it as valuable and perceptions can change.
Everyone needs a place to live and on top of that land can be used for making money even if land itself isn’t as lucrative.