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I just looked it up and it's actually something like 20% of the US that has a negative net worth. Not half, but my point stands.

• chiefalchemist 10y ago
  I would imagine that if you factored in "home ownership" it's much higher. That is, you don't actually own your home til the mortgage is paid. So that equity is a ruse of sorts.
  • rgbrenner 10y ago
    net worth includes assets... so only if they were underwater on their mortgage.. and with the house prices in the US, I don't imagine there are a lot of people in that situation (at least since the subprime mortgages have all/mostly been foreclosed on by this point).
    • chiefalchemist 10y ago
      Okay. Thanks. But I'm gonna have to call that a false god none the less. Wealth on paper (i.e., stock) is bad enough, but to assume (<< keyword) that some fraction of your house is worth $X and is "money in the bank" seems foolish to me. Let's not forget that when you get a mortgage for say $500k, that's not what you end up paying (in total). The total and real cost of that loan is much high. I digress? :)