For two thousand years, the housing prices in city centers around the world have not actually increased: only 1000 grams of gold is needed. If you travel back to the prosperous Tang Dynasty in 744 AD, stand on the streets of Xuanyangfang in Chang'an City, look at the peonies all over the city, and want to buy a decent mansion here. The dentist (agent) will examine your attire and quote a price: "One hundred taels of gold Equivalent to the current measurement, it is approximately 3700 grams. That is the core area of the world's largest metropolis and the arrival of many countries, equivalent to the current "Tongchen Yipin". If you think it's too expensive, travel back to Ming Dynasty Beijing in the 16th century AD. Buying a three bedroom apartment in the inner city that can accommodate a small family usually costs 200 taels of silver on the property deed. According to the 1:7 gold to silver ratio at that time, you only needed to take out 28 taels of gold - about 1000 grams. Crossing the ocean again, we arrived in Florence in 1450 AD, where the Renaissance Cathedral of Santa Maria del Fiore had just been completed. You walked into the Medici Bank and wanted to buy a small stone brick building near the Municipal Square. The banker will tell you that this requires 250 florin gold coins. Not much, not much, exactly 875 grams of gold. Did you notice? From Chang'an in the Han Dynasty, to Florence in the Middle Ages, and then to Beijing in the Ming Dynasty. 1000 grams of gold seems to be the unspoken "property ruler" of human civilization. As long as you accumulate these two pounds of heavy gold in your hands, no matter how time and space change, you can always exchange for a dignified foothold in the center of a big city. If you own 3000 grams of gold, then you will own a luxurious mansion in the top core area of a global city. A millennium constant, torn anchor point Why has this intuition of 'millennium constancy' failed in our generation? Before 1792, the world had no leverage and no Federal Reserve. If you want to buy a house, you must move out an equal amount of physical gold or silver - the "energy crystallization" that you or your family have exchanged for decades of sweat, food, and physical strength. But after the birth of the US dollar in 1792, due to the ability to borrow money from the future, When the first long-term credit contract was signed and the credit detached from gold reserves emerged, asset pricing began its two hundred year long "credit expansion". How much of the current housing prices in New York, Shanghai, and London is the value of land or the illusion of credit? Today, if you think that 1000 grams of gold (about 1 million yuan) can only buy a toilet and half a kitchen in the center of a top city in the world, it is not that the coordinates of gold have changed, but that we are in a rare "credit expansion period" in human history. If the gold price anchor point returns Many people ask: How much will the gold price reach per gram? Actually, this question is the opposite. We should ask: Will credit expansion reach its ceiling? If the gold price returns to the value center of the past two thousand. At this point, you will find that your 1000 grams of gold can once again buy houses in the core areas of top cities around the world. Appendix: Historical Facts 1. Western Han Dynasty: "Civilian" residences in Chang'an City (1st century BC) Clear source: "Juyan Han Bamboo Slips" and "Book of Han: Food and Commodity Chronicles" Historical description: The level of urbanization in the Han Dynasty was extremely high, and ordinary residential buildings (not high-ranking officials or nobles) in Chang'an were sold for about 10000 to 20000 yuan. Gold Conversion: In the Han Dynasty, the official exchange rate was "one jin of gold (about 248 grams) worth ten thousand coins". Detailed explanation: Buying a house in Chang'an City that is suitable for settling down requires 248-496 grams of gold. 2. Ancient Rome: Ordinary houses in Pompeii (1st century AD) Clear source: Wax Tablets of Pompeii, a land registration and sale contract discovered at the Pompeii ruins. Historical description: In a second tier center city like Pompeii, where trade flourished, a standard residential unit with an atrium was sold for around 10000 to 20000 sesterces. Gold conversion: At that time, one gold coin (Aureus) contained about 8 grams of gold and was worth 100 sesterces. Explanation: Equivalent to approximately 800-1600 grams of gold. Considering that Pompeii is a typical port commercial district with slightly higher land prices than ordinary inland cities, this perfectly fits your assessment of the 'core area of a big city'. 3. Tang Dynasty: The "moderately prosperous" home of Chang'an during its prosperous era (8th century AD) Clear source: "Taiping Guangji" and Tang Dynasty "Valuation Account" Historical description: During the reign of Emperor Dezong of Tang Dynasty, a relatively small courtyard in Xuanyangfang (core residential area) of Chang'an was sold for about 100000 to 150000 wen. Gold conversion: In the Tang Dynasty, the ratio of gold to silver was about 1:5, and the ratio of money was about 1:1200 (1 gram of gold is equivalent to 1200 wen). Detailed explanation: Equivalent to about 83-125 taels of gold (Tang liang), converted to modern metric system, it is about 330-500 grams of gold. 4. Byzantine Empire: Apartments in Constantinople (10th century AD) Clear source: Farmer's Law and Book of the Eparch. Historical description: In Constantinople, the busiest city in the world at that time, a city apartment located on the second or third floor (not an independent palace) sold for about 10-20 nomismas. Gold conversion: Each Nomesma is a pure gold coin, weighing approximately 4.5 grams. Detailed explanation: You only need 45-90 grams of gold to buy the right to use a general apartment. But if it is an independent stone house in the city center, the price is over 500 grams of gold. 5. Northern Song Dynasty: "Independent Houses" in Bianjing (11th century AD) Clear source: "Continuation of the Comprehensive Mirror for Aid in Government" and "Observations and Records of the Song Dynasty" from the Song Dynasty Historical description: During the Northern Song Dynasty, Bianjing was densely populated, and housing prices were notoriously high in history. A standalone property (not located in the core area) of an ordinary "Zhongren Home" is priced at approximately 300 to 500 guan. Gold conversion: The ratio of money in the Song Dynasty is about 1:12000. Detailed explanation: 300-500 guan is equivalent to approximately 30-50 taels of gold (Song liang), which is equivalent to approximately 1200-2000 grams of gold in the metric system. 6. Florence: Craftsmen's Mansion during the Renaissance (15th century AD) Clear source: Medici Bank Records and Catasto tax registration in Florence. Historical description: A successful leather craftsman or junior bank employee purchased a two-story small building in the city of Florence for approximately 150 to 250 florins. Gold conversion: 1 Florin gold coin has a fixed gold content of 3.5 grams. Explanation: Equivalent to approximately 525-875 grams of gold. 7. Ming Dynasty: "Second Ring House" during the Wanli period (16th century AD) Clear source: Compilation of Xianzhi Tang Manuscripts and Ming Dynasty Contract Documents. Historical description: During the Wanli period, a tile house (3-5 rooms) in the inner city of Beijing was sold for about 150 to 200 taels of silver. Gold conversion: At this time, the gold to silver ratio is approximately 1:7. Detailed explanation: Equivalent to approximately 21-28 taels of gold (Ming liang), equivalent to approximately 800-1050 grams of gold in the metric system. 8. Mughal Empire: Merchant residences in Delhi (17th century AD) Clear source: Fran ç ois Bernier's travelogue of the Mughal Empire. Historical description: As a center of power in Delhi, a brick and stone residential building located near Bazaar (market) was sold for approximately 50 to 80 gold Mohur coins. Gold conversion: One Mohuer gold coin has a gold content of about 11 grams. Explanation: Equivalent to approximately 550-880 grams of gold. In the imperial center on the other side of Asia, this law still holds true. 9. Louis XIV period in France: Parisian apartments (around 1700 AD) Clear source: Memorandum from the Count of Saint Simon and property registration in Paris at that time. Historical description: Near the Marais district of Paris, a typical three bedroom stone apartment is priced at around 2500 to 3000 livres (Livre). Gold Conversion: At this point, after converting the French gold coin (Louis d'or), 1 gram of gold is worth approximately 3 livres. Explanation: Equivalent to approximately 800-1000 grams of gold. 10. Shogunate Era: Edo's "Machiya" (18th century AD) Clear source: "Historical Materials on the Tokugawa System" and Edo City Sales Records. Historical description: As one of the largest cities in the world at that time, Edo (now Tokyo) sold an ordinary street facing townhouse (front store, back home) for about 10 to 20 gold coins. Gold conversion: One small gold coin contains approximately 13-15 grams of gold. Explanation: Equivalent to approximately 150-300 grams of gold. Due to the fact that most buildings in Edo are made of wood and have a short lifespan and frequent fires, the value of the "houses" themselves is relatively low, with a greater emphasis on rental value. If it is a permanently held core plot, it requires at least 600 grams of gold. Author - Blade of the Wind