|The struggling real estate market remains a concern for investors. For some perspective on home prices, 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 a relatively low 94 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 84% from its 2001 peak (to a level last seen in 1980) and remains well within the confines of a six-year accelerated downtrend and continues to close in on its 1980 trough.Notes:
- Does the real estate plunge continue? The answer may surprise you. Find out now with the exclusive & highly regarded charts of Chart of the Day Plus.
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Quote of the Day"The desire for gold is the most universal and deeply rooted commercial instinct of the human race." - Gerald M. Loeb
Events of the DaySeptember 11, 2011 - National Grandparents' Day
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