And gold is money, the real money:
– James Turk on the US Dollar, the Euro, Hyperinflation, Gold And Silver
So the (median) value of US homes is REALLY, REALLY down 80%.
– Priced In Gold, The Median Home Price Is Down 80% In The Past Decade (ZeroHedge, June 13, 2011):
It is kind of the fine folks who compile the Case Shiller index to finally “definitively” tell us that home prices have now officially double-dipped (or is that quadruple dipped when one adjusted for the pro forma impact of QE1 and 2?). Well, below is a chart that cuts right through the noise and semantics, and shows that when expressed in a currency that has not been battered and diluted endlessly, the true normalized value of housing is really down 80% not just since the housing peak but since the turn of the millennium.
Median home price priced in gold.
What about the fact that gold prices are elevated because people believe it is the only “safe” asset left. 4 years ago people thought that Real Estate was the safe investment as it could only go up. People are afraid of any other investment because of the recession gold is over preforming. Eventually it will hit a peak when people cannot get the same returns and it will go back down.