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Why investing in gold is better than investing in a house, an example |
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Written by Wang Zen
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Friday, 12 October 2007 |
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Back in January of 1972, my parents bought a 4 bedroom, 2 bath house in Lakewood Coloradoo for $26,000. The price of gold at the time was $45/ounce. It would have taken 577 ounces of gold to buy that house. Today, the house is worth around $300,000. 577 ounces of gold at the current price of $749 is worth $432,173. It could buy my parent's house and have over 130,000 left over. The point is that gold retains its value no matter what the currency is doing - inflating, deflating.
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