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US House Prices at One Third of their 2001 Value
by The Anglo American | March 10, 2008 at 01:31 pm | 481 views | 2 comments
US House Prices at One Third of their 2001 Value
By The Anglo American | March 10, 2008
It only takes 240 ounces of gold to buy a US house. There has never been a better time to melt the jewelry. In gold terms, an average US house price has dropped to one third of its 2001 value.*Europe is also beginning to feel the destructive wind that has torn through the US housing market. The UK house prices are in retreat after many years of explosive growth and Spain is thought to follow suite by the summer......... This decline is not driven by a European sub-prime market failure........... So how healthy is your bank?
* (Data by Tim Lee of pi Economics as reported in the Financial Times).©The Anglo American 2008
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March 10, 2008 at 01:31 pm by The Anglo American, 481 views, 2 comments
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The Anglo American
Chicago, Illinois, United States
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Comments (2)
at 08:26 on March 11th, 2008
Fantastic photo! Where did you get it?
at 17:39 on March 11th, 2008
Hi Dave,
Thanks for the plug. The photo really says it all!
I found it on google. It comes from here ......
http://images.google.com/imgres?imgurl=http://farm1.static.flickr.com/178/433904682_bb28139877.jpg&imgrefurl=http://millionairemommynextdoor.blogspot.com/2007/11/housing-bust-aftermath-is-turning.html&h=333&w=500&sz=122&hl=en&start=107&um=1&tbnid=fWJSDPnY7To6jM:&tbnh=87&tbnw=130&prev=/images%3Fq%3DSubprime%2BHousing%26start%3D100%26ndsp%3D20%26um%3D1%26hl%3Den%26rls%3Dcom.microsoft:en-US%26sa%3DN