100oz or lower. Triple-whammy: houses will tank, Sterling will tank, gold will go up. Within only 6 months the media have changed their tunes quite a bit. In another 12 months any 3-year old on the street will tell you how bad of a dog houses are as an investment. Credit crunch is also not going away. Last time (in gold cycles) we hit 80oz, quarterly numbers. We could easily see the same or lower at the bottom this time. This crisis is worse than the 70s. Even Darling has woken up to this now.
Funny thing is, the street cafes are full, people are shopping. It's truly a While E. Coyote moment of the wider economy.
EDIT: I would put it like this: someone who didn't buy a house because he saw it coming, instead bought gold, and will exchange this gold for a house when the price in gold is lower than, say, 120oz, this person will have done very, very well.