Below is 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 153 ounces of gold to buy the median single-family home. This is considerably less that the 601 ounces it took back in 2001. When priced in gold, the median single-family home is down 75% from its 2001 peak.
“It is a [disputed] question, whether the circulation of paper, rather than of specie [gold and silver coin], is a good or an evil… I believe it to be one of those cases where mercantile clamor will bear down reason, until it is corrected by ruin.”
- Thomas Jefferson
“Paper is poverty,… it is only the ghost of money, and not money itself.”
- Thomas Jefferson
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