Home Prices Relative to Gold

Today’s Chart of the Day comes from Chart of the Day:

“It currently takes a relatively low 106 ounces of gold to buy the median single-family home. This is dramatically less than the 601 ounces it took back in 2001. When priced in gold, the median single-family home is down over 80% from its 2001 peak (to a level last seen in 1980) and remains well within the confines of a six-year accelerated downtrend and continues to close in on its 1980 trough.”

Home/Gold Ratio

(cost of the median single-family home in ounces of gold).

June 10, 2011

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