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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 7:39 pm to Big Scrub TX
Posted on 1/8/24 at 7:39 pm to Big Scrub TX
Because if you sell your house, you have to buy a new one. It's only cash value unless you die and it goes to heirs.
2
Posted on 1/8/24 at 7:46 pm to El Segundo Guy
quote:
Because if you sell your house, you have to buy a new one.
I figured more would get this. Guess not.
Posted on 1/9/24 at 1:03 am to El Segundo Guy
No. It is still calculated into net worth but now attached to the new house. It could increase or decrease your net worth depending on if you bougbt up or down. Also, a person might sell and move in with their kids, parents, etc.. Home equity is a part of net worth that fluctuates.
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