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Gold for house (lemmy.ca)
submitted 1 year ago by n7gifmdn@lemmy.ca to c/memes@lemmy.ml

wood for sheep?

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[-] Lemminary@lemmy.world 70 points 1 year ago

I feel like one of these is off by a 0

[-] BillDaCatt@lemmy.world 59 points 1 year ago

The bar in the picture is one kilogram or about $65,000 US dollars. Ten bars would buy a very nice house in my area.

[-] juliebean@lemm.ee 35 points 1 year ago

it might get you a small fixer upper in my home town.

[-] Taleya@aussie.zone 9 points 1 year ago

Meth lab or woop woop in mine

[-] Fox@pawb.social 37 points 1 year ago

10 of these will buy you a house in 20230

[-] skydivekingair@lemmy.world 26 points 1 year ago

Which one? Gold was $20.67 per Troy ounce in 1920, that’s about $664.55 per kilo. 10 kilos about $6,645.55 I’m believing the first search result https://www.countryliving.com/life/g33398396/what-things-cost-100-years-ago/ says that matches up. Gold is about $64,900 per kilo today so $649,000 for 10 bars, that’s a low cost of living middle class place or HCOL very small house that needs renovation. I could see you meaning these days and houses in some areas are in the $6 million range, guess they should be location specific.

[-] Zehzin@lemmy.world 38 points 1 year ago

$649,000 for 10 bars, that’s a low cost of living middle class place or HCOL very small house that needs renovation.

What the fuck is going on with house prices up there

[-] skydivekingair@lemmy.world 9 points 1 year ago

Sub 2% interest rates for 2 years for loans and then jumped to ~8%

Market is wildly variable.

[-] Kidplayer_666@lemm.ee 8 points 1 year ago

And probably the fact that post 2009 the construction industry collapsed and a lot fewer homes are getting built

[-] ikapoz@sh.itjust.works 14 points 1 year ago

Median home price in the US last year was about 450k, so I’d say your scale is a bit skewed.

[-] skydivekingair@lemmy.world 3 points 1 year ago

Yeah I was going to say Upper Middle Class but I’ve seen some dumpy houses for those prices and it’s really titled by if you bought when interest rates were low vs the last year or so.

[-] shalafi@lemmy.world 3 points 1 year ago

Jesus. Got my house 7-years ago on a Habitat for Humanity mortgage, for which you pay cost. ~85K? Also, no interest on the loan. Also, no property tax.

3-bed/2-bath/80'x200' lot/1,140sq. ft. living space/$550mo.

Call your local Habitat chapter, go to the next meeting and learn. Keep going with the program if you can. Took my ex-wife and I 14-months, start to finish.

I can't tell you the qualifications, they change and are different from one area to the next. I can give you some basic answers, at least I'll try.

[-] GombeenSysadmin@lemmy.world 1 points 1 year ago

Where did you get the gold price? This page says $269.

[-] versionist@lemmy.world 5 points 1 year ago

He's taking kilograms, you're talking ounces.

[-] skydivekingair@lemmy.world 1 points 1 year ago

It’s weird though my 1920s price research shows $20.67 per Troy Ounce. Example: https://sdbullion.com/gold-price-by-year

I might be mistaken and that’s the US government’s set price for gold in the early 1900s, a lot of these other links show it closer to 10x that value.

[-] EdibleFriend@lemmy.world 4 points 1 year ago
[-] Tb0n3@sh.itjust.works 2 points 1 year ago

Currently worth $650,000. I don't think it's off.

this post was submitted on 28 Jan 2024
253 points (74.9% liked)

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