In the table below I calculated the number of ounces it took to buy an average house in Toronto.(the 2008 numbers are just estimates. As you can see the ounces needed increased from 1987 of 329 and peaked in 1989 at 605 ounces. It then went down again to 375 ounces in 1996 before again peaking in 2005 at 623 ounces. Now it is again heading down and is around 365. So gold has indeed not lost value to Toronto housing either. What will happend next year, is this a bottom ratio or will gold strengthen even further? Comments please