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Vancouver, Calgary and Toronto Detached Housing Priced in Gold
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The chart above shows Vancouver, Calgary and Toronto detached housing priced in ounces of gold valued in CA$. Gold mining share prices rise as the "real price" of gold rises eg: the Gold/Commodities Ratio because the commodity cost (fuel, materials, equipment) is falling against the nominal price. See the Homestake Mining Chart from 1924 to 1935. Bullion attracts investment when credit markets contract because of its classic use as a hedge against currency depreciation and its ability to act as money, a store of value. The Millionaire Metric allows you to see what your dollar is worth and the (declining) amount of gold you need to be a millionaire. In April 2013 the spot price of gold continued to plunge driving the cost of real estate up in relation. So far it's been a year and a half correction. In terms of value it requires 39% less gold to be a millionaire than it did 5 years ago.
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