The Phaserl


Holter, Hoffman, and Schectman Answer the Q & A of the Day: Precious Metals Manipulation

from Miles Franklin:

Q:  My father purchased his first house in 1963. It cost him $25,000 dollars. It was a 3000 sq. ft. home, with four bedrooms and three bathrooms in a new suburb near a large city. Gold was $35/oz. in 1963, so this house cost about 700 ounces of gold. Today a similar home in a similar location in Texas would cost about 190 ounces of gold. If gold is undervalued, why the big difference in ounces?

David Schectman’s Answer:

I have a question for you – is gold undervalued or housing overvalued, or both?

I have written about this several times before.  Nine years ago we built a new house.  We took out a large mortgage instead of selling gold, which I believed would go up a lot in the next 10 years.  I was correct.   Gold was $500 an ounce at the time.

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