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re: Excluding home equity, the median 40-44 year old has a net worth of just $58,000
Posted on 1/8/24 at 7:15 pm to EmperorGout
Posted on 1/8/24 at 7:15 pm to EmperorGout
quote:
If you exclude their most valuable asset most people don’t have a lot of money, earth shattering stuff
If people sold that asset would they have to spend all of their equity from it to buy another house or just choose to be homeless?
What you miss is the data shows that people have zilch in savings and other assets.
2
Posted on 1/8/24 at 7:17 pm to stout
quote:
If people sold that asset would they have to spend all of their equity from it to buy another house or just choose to be homeless?
I kind of agree that home equity skews net worth and most people will never use any of it other than for loans to pay off remodels or other debt
Posted on 1/8/24 at 7:20 pm to stout
There isn’t a great excuse for it to be this low, and thankfully I’m well above that.
I’ll just say as a 40 year old since graduating college I immediately walked into a nonexistent job market due to the housing crisis, 10 years later the world turned upside down due to Covid, and have only had the luxury of a republican president for 4 of the last 16 years
It hasn’t exactly been the land of milk and honey for many…
I’ll just say as a 40 year old since graduating college I immediately walked into a nonexistent job market due to the housing crisis, 10 years later the world turned upside down due to Covid, and have only had the luxury of a republican president for 4 of the last 16 years
It hasn’t exactly been the land of milk and honey for many…
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