Average US House Prices In Ounces Of Gold Or Silver

The average is pushed up by a few big ticket properties. One mansion at $10 million or $20 million, pushes up the average when most homes are selling for $180,000. The median is a more useful number, and that is closer to $200k.

From
http://www.realestateabc.com/outlook/overall.htm dated 8/3/2011
link



<< <i>In the Northeast, the median price rose to $261,100 from $241,500 in May, and it was up 3.1 percent over June 2010. The median price in the Midwest rose to $147,700 from $136,400 in May, but fell 5.3 percent from the previous year. In the South, the price rose to $159,100 in June from $149,200, and slipped just 0.1 percent in a year-over-year comparison. The median price in the West jumped up to $240,400 from $192,300 in May and grew 9.5 percent from last year. >>



Overall U.S. median is about $185k and is on a chart at the link.

You can have my home for 72 ounces. Nice and in guarded 24/7 community in Vegas.

bob

Interesting to think that in most places 75-100 ounces will get an average house.
Makes me think that the houses are bargains at that price. Of course they aren't exactly on the rise.

fiveNdime,

id be happy w/a 200 oz gold (or 4.5kg silver) trade for my 'average' place

I'll take it. Where do I ship the 4.5 kg of silver?

interesting!

Interesting.

If anyone wants 20+ acres and a 3100+ sqft house in the country but just 7 minutes from one of the fastest growing Universities in SE Ga, pony up 320 oz. and I'll help you move.

is it possible that interest rates were temporarily pushed up to get potential homebuyers off the fence with a goal of a "growing" housing market?

Median existing home price today is about $260k or about 15,500 oz of silver or 200 oz of gold.

On the date of the OP, it only took only 4100 oz of silver or 94 oz of gold. Median existing home price was 171k, silver closed at $41.48 and gold closed at $1826.

If homes weren't financed with easy money prices would drop like a rock. Cash price buyers are over paying at the current time. If all homes had to be purchased with cash like many other countries, prices would be much lower.

It would cost you about 780 oz to buy my house today. Interestingly, when I purchased it in August of 2000, it would have cost you 1872 oz to buy it...

@metalmeister said:
If homes weren't financed with easy money prices would drop like a rock. Cash price buyers are over paying at the current time. If all homes had to be purchased with cash like many other countries, prices would be much lower.

I think that house prices have to go up or there will be a second american revolution. All the state and local governments are addicted to property tax revenue. If prices plateau for a while they fudge it but if they really go down then all their budgets blow up . They can't print like the feds do

Oh wait, August of 2011 gold was at the high of $1,917.90 and at the price my home is 138 oz. So, still has almost doubled in value since then.

bob

@cohodk said:

@metalmeister said:
If homes weren't financed with easy money prices would drop like a rock. Cash price buyers are over paying at the current time. If all homes had to be purchased with cash like many other countries, prices would be much lower.

Really? I guess you dont know that homes INCREASED in price during the late 70s-early 80s when a mortgage was 15%.

And I think there are some costs in building a house---lumber, labor, paint, appliances, ect. Kinda hard to see prices "drop like a rock" when it costs more every year to build one.

I was just a kid then but from studying the time , it was mainly inflation caused by military spending, and pressure from US dollars that existed outside the US borders , and the rise of OPEC . The oil producing nations refused to take less than a dollar a barrel for oil when they could see the US getting over 3 dollars a barrel for domestic oil.

OPEC dumped the tea in boston harbor basically, we lost the ability to set the price we would pay for oil and we were at the same time running a deficit because of Vietnam while the gold window was still open.

People drove up house prices because they viewed it as a safe haven for their dollars.

Oil is a substance that costs money and burns up into nothing. We were trading scarce gold for oil and it was unsustainable. When oil price goes up tenfold and you still have to pay for it with gold priced at $35 an ounce its a major problem.

Maybe someone can find a chart of oil priced in gold from the mid 50's to 1980 or so somewhere?

edited to add how about houses priced in barrels of oil?

Moves in this realm are a marathon not a sprint.
I have been keeping track since 2016:

222,700/1232=(180 oz.) 4/27/16
232,500/1290=(180 oz.) 6/20/16
234,200/1230=(190 oz) 11/16/16
236,400/1235=(191 oz) 5/1/17
249,000/1260=(197 oz) 6/10/17
289,000/1300=(222 oz) 6/11/18

Also good (our millennium) information:

565 ounces of gold was highest price in gold paid (2001)
110 ounces was low in 2012

Also good (all time record) information:

Housing top 543 ounces (all time record)
Housing bottom 96 ounces (all time record)

Follow me @UNSCAMMABLE on Twitter

@Sweetpie said:
It pains me to think every year I have to pay the government 3-4 oz of gold in property tax...

I give them nearly 9oz per year and my parents give them a whopping 19oz per year.

@bronco2078 said:
Its why in a lot of cases houses are not a great investment. You pay property taxes every year , if you add them up on a house you owned for 20 years they would probably equal the sale price. Sell the house and pay capital gains too? The right hand of the government has already taken the full value in property tax a slice at a time. Now when you sell the left hand of the government wants tax on it again.

But in the past you could deduct the property tax every year(still can under new law but with limits)
Also if the home is considered your primary residence you can exclude $250k for single person or $500k for a married couple from capital gains. So if your home value gained over 250k over cost minus selling expenses that is what is taxed.

When I bought my starter home it was 380 and hit 400 after closing. Had to pony up 80K to get in.

@3stars said:
the 250k/500k is above and beyond what you paid for the house plus improvements etc. It takes a hell of an upswing in the market before you get charged capital gains taxes. A $200k house would have to sell for over $700k (if married) before paying any tax.

California then obviously , or new york. Nice to see the blue states will get smacked hardest. I know people don't want to hear it , but I'll go out on a limb and predict that helpful politicians will probably start thinking about some sort of national property tax , give it 20 years and it will be a thing

@AUandAG said:
Property tax is one tax I do not mind paying. I love our infrastructure here in Nevada. Our roads are generally quite nice with NO potholes.

bob

Hahaaaa. How are the freeze/thaw cycles in Nevada?