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Housing Market Shows How Gold Maintains Its Value As Purchasing Power Drops - Goldmoney


Neils Christensen Thursday April 12, 2018 12:06

Kitco News

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(Kitco News) - Soaring housing prices in all the major markets do not reflect a problem within the housing market but demonstrates a problem with global currencies, according to one gold bullion investment firm.

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In 2017 Canada saw the fast rise in housing prices in the world. According to research from Goldmoney, Canadian homes, priced in Canadian dollars have risen 350% since 1990. However, home prices, measured in gold ounces has been relatively unchanged for the last few years.

While many economists have attributed higher Canadian home prices to growing demand, mainly from foreign investors, Wieler said that he sees the higher prices as a symptom of devalued fiat currencies.

“In other words, the Canadian dollar lost its purchasing power dramatically, while gold pricesfluctuate and remain in line with real assets,” said Stefan Wieler, director and lead researcher at the investment firm in a recent email comment to Kitco News.