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re: 1 in 5 Oklahoma households have zero or negative net worth

Posted on 11/11/26 at 10:47 am to
Posted by Deadmanshand
Member since Jun 2026
734 posts
Posted on 11/11/26 at 10:47 am to
Blacks, Native Americans, and farmers (who generally live in a constant state of indebtedness) skew those numbers.
Posted by iglass
North Alabama
Member since Apr 2012
3193 posts
Posted on 11/11/26 at 10:48 am to
I bet illegal immigrants are not considered in the numbers.

I know some places here in Alabama where there are apartments that have Haitians stacked inside like cordwood. It's just as bad for a lot of immigrants from some other countries. And Alabama is not even a particularly friendly state for illegals! (well, other than the counties with chicken processing plants).

I can only imagine what it would be like in California once you get outside of Bel Air and Thousand Oaks.
Posted by Saskwatch
Member since Feb 2016
18564 posts
Posted on 11/11/26 at 10:50 am to
quote:

Shocking considering the upward mobility and wealth of our country.


Wage growth not keeping up with inflation is really pushing this idea further and further away. Still doable though and more likely in U.S. than just about anywhere.
Posted by BabyTac
Austin, TX
Member since Jun 2008
17661 posts
Posted on 11/11/26 at 10:51 am to
I’m actually surprised percentages are that low. I figured most adults don’t have as much in savings as they owe on a home. Esp younger adults.
This post was edited on 11/11/26 at 10:52 am
Posted by AUFANATL
Member since Dec 2007
5670 posts
Posted on 11/11/26 at 10:53 am to

I think in some ways it's simply a reflection of the housing market. That's why states with huge groups of people in poverty, like New Mexico and Hawaii, have low numbers.

But it still seems a little off. What percentage of people own homes and have been in them long enough to build equity?

There's also the snag of valuing personal item assets that a person owns. If my house burns down tomorrow, I'm filing an insurance claim stating my "stuff" was worth $50,000. If I have to move to Hawaii and want to sell all of my "stuff" I would be lucky to get $2000 off craigslist, FB marketplace, Ebay, etc and the months long headache that entails probably wouldn't be worth the hassle versus donating it to whatever charity is willing to haul it away.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
39132 posts
Posted on 11/11/26 at 10:54 am to
quote:

I bet illegal immigrants are not considered in the numbers.


If they don’t have a drivers license or w2, they definitely aren’t counted. I’m not sure the methodology, but there is no way to account for people that don’t have any kind of financial footprint
Posted by CatfishJohn
Member since Jun 2020
24024 posts
Posted on 11/11/26 at 10:54 am to
quote:

I’m actually surprised percentages are that low. I figured most adults don’t have as much in savings as they owe on a home. Esp younger adults.



Home market value is an asset in the calculation.

You can have $100k in savings/portfolio, owe $300k on a home, but the home market value is $600k and you have a positive $400k net worth.

This hypothetical has no other assets or liabilities.
Posted by Suntiger
STG or BR or somewhere else
Member since Feb 2007
36883 posts
Posted on 11/11/26 at 10:56 am to
quote:

La doing better than MA, NY, ME, CT?


I’d imagine TOPS (smaller student loan balances), low cost of living and affordable housing (comparatively) have a lot to do with it.

Also, we have pretty strong family ties so I’d imagine there’s some inherited property and family assistance associated with this as well.
Posted by lsuconnman
Baton rouge
Member since Feb 2007
5954 posts
Posted on 11/11/26 at 10:56 am to
quote:

Not in Oklahoma, they’re methed up Indians (feather not dot) that spend their government checks on slot machines By that logic alone, New Mexico should be the highest


Without doubt, this map would perfectly overlay states with the largest populations who identity as subsistence/homesteaders.

You never see them side by side because the first map is used to show an unequal distribution of wealth, while the latter identifies groups that intentionally avoids participation in modern society…and you can’t have it both ways.
Posted by Beauw
Blanchard
Member since Sep 2007
4472 posts
Posted on 11/11/26 at 11:08 am to
quote:

Go Celeste!


The best ever, followed closely by Ashlyn Gere
Posted by LSUtoBOOT
Member since Aug 2012
22099 posts
Posted on 11/11/26 at 11:09 am to
This is the part I’m struggling with when I see California’s low percentage on the map, and it probably doesn’t count the homeless, but I guess many of the people on welfare and Medicaid must also own homes and have a great deal of equity in them. Also, data indicate that about 40+% of California residents rent.

“• SNAP / CalFresh (Food Stamps): Approximately 13.9% of California’s population (about 5.47 million people) receive Supplemental Nutrition Assistance Program (SNAP) benefits.

• Medi-Cal (Medicaid): Roughly 30% to 32% of the state's population relies on Medi-Cal for health coverage.

• CalWORKs (Temporary Assistance for Needy Families / Cash Aid): Around 890,000 individuals (about 350,000 families) participate in CalWORKs, which is roughly 2.2% of the state's total population.

• Overall Public Assistance / Multiple Programs: According to the Public Policy Institute of California, about one-third of California families (around 4.5 million families total) receive some form of public assistance, with roughly one-quarter participating in major means-tested welfare programs.”
Posted by KBI2
Member since Dec 2025
363 posts
Posted on 11/11/26 at 11:21 am to
quote:

Once I get my reparations, imma be rich!


Posted by UFFan
Planet earth, Milky Way Galaxy
Member since Aug 2016
4381 posts
Posted on 11/11/26 at 11:25 am to
This probably isn't the case in Oklahoma, but in some wealthier states, people aged roughly 23-32 can have good jobs and a decent home or apartment yet have negative net worth on paper due to student loan debt.

Not that I think these balloning student loans are a good thing, but it's hard to view those people as really being in as bad straits as some Wal-Mart worker with no college education who's deeply into debt and has little chance at career advancement.
This post was edited on 11/11/26 at 11:30 am
Posted by UFFan
Planet earth, Milky Way Galaxy
Member since Aug 2016
4381 posts
Posted on 11/11/26 at 11:27 am to
Renting in California is extremely expensive. And really it's even more expensive over the long run than buying a house, since rental prices keep rising with no end in sight, while buying a house at least freezes the price you pay at the house's current value.
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