Home prices look like they’re exploding… but what if that’s not true?

The house didn't really get better. But if you actually see it from this vantage point, you actually need fewer ounces to buy this same home. Most people see the price of homes going up. However, to me, I look at it from a different lens. It's not price growth. I actually look at it from this vantage point. The currency has decayed, and it's more of an illusion. And if I were just to compare that difference there, that's a 77% drop in real terms, if this home was denominated in gold. And when people think of price growth, again, that's why I think of it as currency decay. And the house didn't appreciate the dollar. Depreciate. If you kind of visually imagine every year your measuring stick starts shrinking, but nobody's telling you the rulers changing. Gold doesn't grow, it just stands still. What's actually really changing is the dollar's shrinking.