Loading ...Let’s go step by step again for 2002
Step 1: Average (median) U.S. house price in 2002
According to U.S. Census and Federal Reserve data, the median home sale price in 2002 was about $187,600.
Step 2: Gold price in 2002
Gold averaged roughly $310 per troy ounce that year.
(Source: World Gold Council historical data)
Step 3: Calculate ounces of gold needed
Ounces of gold=House priceGold price per ounce=187,600310≈605 ounces\text{Ounces of gold} = \frac{\text{House price}}{\text{Gold price per ounce}} = \frac{187,600}{310} \approx 605 \text{ ounces}
Answer:
It took about 605 ounces of gold to buy the median U.S. house in 2002.
Bonus comparison:
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1968: ~706 ounces
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2002: ~605 ounces
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2025 (today): median home ~$430,000 / gold ~$2,400 ⇒ ~180 ounces
- In terms of gold, U.S. houses have become roughly 3–4× cheaper since 1968.