I tend to agree on the housing bubble, however there's lots of inflation, and building material prices are going through the roof where I live, so houses aren't getting any cheaper to build.
Gold on the other hand isn't useful and is 'stacked', almost every ounce of it, except for a few kgs off the coast not far from where I live. An ancestor of my wife's used to travel on this ship to Vancouver. It's a very interesting story.
https://nzhistory.govt.nz/niagara-mined-off-northland-coast
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