It became legal to own bullion gold again in late 1974. I was 26 years old and can remember thinking "Wow, I should buy gold - I bet it will go up!"
If I had bought $20,000 worth of gold in 1974, I could sell that today for about $300,000.00
Instead, I bought a $24,000 home in 1973 and sold it for $330,000 in 2005.
If I had sold that $20,000 gold investment at the same time, I would have only got about $100,000.00.
I think it was better to have the house :-)
Of course if you had held onto the house you probably would have sold it for $150,000 today! Good job on hitting the top of the market!
You are live!
<link removed by poster>
Respond so that I can delete the above link to keep HP happy.
And I apologize for the spacing issues. I am not amused with the blogger editor. I'll keep working on that.
Edit: And another note: The Nov 3rd date is the draft date, not the post date. It was posted only an hour ago. I don't know why blogger does that.
Coooooool! Thanks for this! really appreciate it! I'm in the middle of creating a whole range of Game hubs at the moment so don't have much time to check it out fully - but so far it looks great!
I didn't hit the op of the market. We sold just after it started to collapse - we might have had $100,000 more a year earlier.
what about all the money spent on upkeep on the house, property taxes, damage from house party drinking, etc?
i thought you were saying as an investment property, not a primary home
No. We never had any extra money for that until both kids were done with college..
Now... Let's be REALLY honest...
You know that if gold really rang your bells.. then you could have drawn down against your property equity and relatively low interest rates... and bought both your house and your gold!!!
I suppose you decided to have kids instead!
And yet the true Value of both did not rise.
Welcome to the definition of Inflation.
And people "think" they are making money while the Bankers laugh at them.
I sold my house for $330 and bought something smaller for $300.
I didn't really make any money. That $30,000 "profit" is almost exactly equivalent to what I put down originally (in inflation adjusted money).
Back then, I was earning about $30,00 a year and we lived rather well - house, two kids, two cars.. try that today!
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