EDITOR NOTE: If Millennials and younger GenXers are among those in your social circle, then you’re probably aware that most of them don’t own their own homes. Sadly, this is part of a long-term trend according to a recent paper published by the European Central Bank. Data from 1968 to 2017 shows a remarkably steady drop in home ownership. The study identifies lower incomes amid rising home prices as its primary cause. Think about it though. What happened in 1971 that tipped the scales against the generations to follow? If you guessed the end of the gold standard, you’re right. Since 1971, the dollar has lost 83.5% of its value. And money printing via the Federal Reserve only served to inflate asset prices, like houses. Sadly, another trend not included in this study points to ignorance: it’s been 50 years and Americans still can’t come to grips as to why their purchasing power has been sinking. In contrast, since 1971, silver has appreciated 1,647%. Gold has risen 932%. What could have worked for any Boomer then can still work for Boomers, GenXers, or Millennials now. The dollar poised to plunge deeper into oblivion. And non-CUSIP gold and silver are still the soundest monetary assets available.
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Originally posted on ECB