wood for sheep?

  • Ghostalmedia@lemmy.worldEnglish
    0·
    9 months ago

    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.

      • Tak@lemmy.ml
        0·
        9 months ago

        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.

        • Johanno@feddit.de
          0·
          9 months ago

          If they produce mass H2 burning cells gold and platinum will rise in price drastically

    • Numhold@feddit.de
      0·
      9 months ago

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