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There is no housing crisis
Living in Australia we hear constantly about how our housing market has been pushed to the brink. I am surrounded by multimillion homes that are nothing more than a studio apartment in the middle of Sydney. What cost $20,000 for our parents in the 70s is now $1.4 million for a shack on a quarter acre block. We have both the second highest adult wealth and the second highest household debt in the world (whether you bought 20+ years ago or recently is which class you belong to). Then I looked at the price of gold in the 70s vs now. Houses were actually MORE expensive back then... Year House Price (AUD) Gold Price (AUD/oz) House in Gold (oz) 1970 $20,000 $45 ~444 oz 2024 $1,400,000 $3,500 ~400 oz It took 444 oz of gold for a $20,000 house versus 400 oz now for a $1.4 million property. There is no housing crisis, our fiat money has tanked. This is the same story all around the west. It just happens to be worse here because of our tax system and zoning issues but that is FAR from the real story. Hang onto your Bitcoin, it is probably the easiest and most stable way for anybody to survive the shit storm that is coming. submitted by /u/Spexar [link] [comments]
Living in Australia we hear constantly about how our housing market has been pushed to the brink. I am surrounded by multimillion homes that are nothing more than a studio apartment in the middle of Sydney. What cost $20,000 for our parents in the 70s is now $1.4 million for a shack on a quarter acre block. We have both the second highest adult wealth and the second highest household debt in the world (whether you bought 20+ years ago or recently is which class you belong to).
Then I looked at the price of gold in the 70s vs now. Houses were actually MORE expensive back then...
| Year | House Price (AUD) | Gold Price (AUD/oz) | House in Gold (oz) |
|---|---|---|---|
| 1970 | $20,000 | $45 | ~444 oz |
| 2024 | $1,400,000 | $3,500 | ~400 oz |
It took 444 oz of gold for a $20,000 house versus 400 oz now for a $1.4 million property. There is no housing crisis, our fiat money has tanked.
This is the same story all around the west. It just happens to be worse here because of our tax system and zoning issues but that is FAR from the real story. Hang onto your Bitcoin, it is probably the easiest and most stable way for anybody to survive the shit storm that is coming.
[link] [comments]
