CHART = homes priced in gold have plunged 80% to a 31-year low

For some perspective on the all-important real estate market, today’s chart presents the median single-family home price divided by the price of one ounce of gold. This results in the home / gold ratio or the cost of the median single-family home in ounces of gold. For example, it currently takes 120 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 80% from its 2001 peak (to a level last seen in 1980) and remains well within the confines of its six-year accelerated downtrend and not far off its 1980 trough.

via Chart of the Day – Single-family homes priced in gold have plunged 80% to a 31-year low.

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