Today on April 8th 2024 at 9:33PM EDT an ounce of gold is $2,344.90 per troy ounce. That equals $753,885.35 for 10kg of gold.
The average home price in the USA in 1929 was $4,902. So 10kg of gold would have gotten you nice size home.
The average home price in the USA today is $412,095. So 10kg of gold would get you a nice size home today as well.
Its not that gold has gone up in value, its that the dollar has lost 99.14% of its purchasing power since 1929 due to the printing and expansion of the currency supply.
Property values didn’t go up by 840.67%, the dollar lost that much purchasing power 95 years.
Back in the day you could take your wagon and ounce of gold flek to the market and come home with a wagon load of supplies, for like 4 months. That still hasn't changed but you will get funny looks
lets be fair about this folks... ANY standard home 100 years ago was vastly more simple than the complexity of homes today. back then... most only had one bathroom and minimal outlets... minimal lighting... minimal plumbing... modern homes are loaded with all that stuff and technology galore... recessed lighting everywhere... way more intensive construction to retain as much heat/cooling as possible... homes are generally more useable today than years ago. automobiles are no different.... vastly more complex than cars even 30 years ago. but the value of the dollar did take a massive decline over what it was 100 years ago.... just not quite as bad... lets compare apples to apples, shall we??
I totally disagree, my grandad bought his home in the 40’s. Granite foundation, solid real 2x6 framing, real plaster, 4 bedrooms, 3.5 baths, kitchen was small so they added a room off the back with a bigger kitchen. The cabinets were solid mahogany, two fireplaces, the floors were real hardwood… he paid 4700 dollars for the home. Worst thing our family ever did was sale it.
Back east, you will find a lot of 100 year hold homes called 4 squares. Basically a square two-story home, with stairs in the middle. Large lots (as most homes had their own septic system), but the homes were small. Perhaps a detached garage that had a modest work space, and a single place to park the car.
Today, there isn't money in making small homes - which is part of the problem. 3-4,000 sq ft is pretty large, for a "starter" home.
Dang, that's much bigger than I imagined. I thought a lot of those "starter" homes were under 2,000 sq ft. Little brother had a 4-square home, it was like 1,000 sq ft on the main floor, then the upper floor, and about 600 in the basement.
Yeah it was a huge house, not his started house for sure, he had 2 boys by then. Had a huge walk in attic too, I would play up there with my cousins, full of old treasures. I wish I could have bought that house. The basement had granite floors and walls, there was a walk in root cellar made of granite. It was such an awesome house, he took great pride in that home until he sold it to go to a nursing home
True, but the productivity of labor was much smaller in those days. It cost much more, in labor, to build a house in 1929.
As time goes by, the efficiency of labor, (higher productivity of labor), improves and pretty much offsets the increase in complexity.
Just look at flat screen TVs. In 2000, my 55" plasma cost $5500. Today a superior, more complex, 55" LCD can be had for under $500, not even considering inflation from 2000 to 2024.
Technological improvements should not enter the equation, My grandparents didn't know / were completly unaware of said "missing" outlets,lights,toilets,and usability...A car today is 1000x more complex then cars of yesterday, but the underlying economies should still apply. A house is a house, a car is a car, an egg is egg. Cept they are expensive as fuck, and we're all losing to the hidden inflation tax/theft built into the corrupt fiat system, of which inflation is just ONE of the ways we are fucked by bankers and fiat.
If gold and silver wasn’t heavily suppressed like it is today , and kept pace with inflation, gold at $2000 per ounce and silver around $30 per ounce should reflect more along the lines of $19,000 per ounce of gold, and $2000 per ounce per silver… silver is more suppressed than gold in reality….
So, invest in hard assets. Gold, silver, real-estate like land. Clearly, land is little harder to use for small purchases, but its a limited asset and unlike all other things, you can't go out and make more of it. And then there's ammo.
Today on April 8th 2024 at 9:33PM EDT an ounce of gold is $2,344.90 per troy ounce. That equals $753,885.35 for 10kg of gold.
The average home price in the USA in 1929 was $4,902. So 10kg of gold would have gotten you nice size home.
The average home price in the USA today is $412,095. So 10kg of gold would get you a nice size home today as well.
Its not that gold has gone up in value, its that the dollar has lost 99.14% of its purchasing power since 1929 due to the printing and expansion of the currency supply.
Property values didn’t go up by 840.67%, the dollar lost that much purchasing power 95 years.
H/t via twitter // https://x.com/4soundmoney/status/1777513495954608173
Back in the day you could take your wagon and ounce of gold flek to the market and come home with a wagon load of supplies, for like 4 months. That still hasn't changed but you will get funny looks
Yeah ... What has changed though, is that the seller rather would love to receive FRN' s than real value.
lets be fair about this folks... ANY standard home 100 years ago was vastly more simple than the complexity of homes today. back then... most only had one bathroom and minimal outlets... minimal lighting... minimal plumbing... modern homes are loaded with all that stuff and technology galore... recessed lighting everywhere... way more intensive construction to retain as much heat/cooling as possible... homes are generally more useable today than years ago. automobiles are no different.... vastly more complex than cars even 30 years ago. but the value of the dollar did take a massive decline over what it was 100 years ago.... just not quite as bad... lets compare apples to apples, shall we??
I totally disagree, my grandad bought his home in the 40’s. Granite foundation, solid real 2x6 framing, real plaster, 4 bedrooms, 3.5 baths, kitchen was small so they added a room off the back with a bigger kitchen. The cabinets were solid mahogany, two fireplaces, the floors were real hardwood… he paid 4700 dollars for the home. Worst thing our family ever did was sale it.
cries in particle board and Chinese dry wall
One thing we lack something of these days is good, old growth hardwood forests.
How many square feet was your Grandfather's home?
Back east, you will find a lot of 100 year hold homes called 4 squares. Basically a square two-story home, with stairs in the middle. Large lots (as most homes had their own septic system), but the homes were small. Perhaps a detached garage that had a modest work space, and a single place to park the car.
Today, there isn't money in making small homes - which is part of the problem. 3-4,000 sq ft is pretty large, for a "starter" home.
When he bought it 2600 sq feet, they added 2 additional rooms, I think it was well over 3300 square feet when sold
Dang, that's much bigger than I imagined. I thought a lot of those "starter" homes were under 2,000 sq ft. Little brother had a 4-square home, it was like 1,000 sq ft on the main floor, then the upper floor, and about 600 in the basement.
Yeah it was a huge house, not his started house for sure, he had 2 boys by then. Had a huge walk in attic too, I would play up there with my cousins, full of old treasures. I wish I could have bought that house. The basement had granite floors and walls, there was a walk in root cellar made of granite. It was such an awesome house, he took great pride in that home until he sold it to go to a nursing home
Psst, lead in paint doesn't seem to have been any actual danger to people, however it would certainly block radiation of all kinds
True, but the productivity of labor was much smaller in those days. It cost much more, in labor, to build a house in 1929. As time goes by, the efficiency of labor, (higher productivity of labor), improves and pretty much offsets the increase in complexity. Just look at flat screen TVs. In 2000, my 55" plasma cost $5500. Today a superior, more complex, 55" LCD can be had for under $500, not even considering inflation from 2000 to 2024.
I build houses and you are wrong.
Technological improvements should not enter the equation, My grandparents didn't know / were completly unaware of said "missing" outlets,lights,toilets,and usability...A car today is 1000x more complex then cars of yesterday, but the underlying economies should still apply. A house is a house, a car is a car, an egg is egg. Cept they are expensive as fuck, and we're all losing to the hidden inflation tax/theft built into the corrupt fiat system, of which inflation is just ONE of the ways we are fucked by bankers and fiat.
Or you could use 10 of those to bribe a democrat senator from NJ. Don't worry, nothing will happen if you get caught.
If gold and silver wasn’t heavily suppressed like it is today , and kept pace with inflation, gold at $2000 per ounce and silver around $30 per ounce should reflect more along the lines of $19,000 per ounce of gold, and $2000 per ounce per silver… silver is more suppressed than gold in reality….
So, invest in hard assets. Gold, silver, real-estate like land. Clearly, land is little harder to use for small purchases, but its a limited asset and unlike all other things, you can't go out and make more of it. And then there's ammo.
My grandparents house that I grew up next to was 2800 bucks in 1938 when my mom was born.
Thanks for that clear picture, precious metals is where to be....
I believe the bar on the left should be ONE of these..... otherwise, yepper the FRN isn't worth the paper it is printed on...
Nice research, thank you