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Unfortunately the link from the article to the original report seems to be broken. The standard simple calculation for net worth is assets minus debts, so cred
by twblalock 8y ago
Unfortunately the link from the article to the original report seems to be broken.
The standard simple calculation for net worth is assets minus debts, so credit card debt, mortgages, etc. would be negative.
But even though the mortgage is negative, the value of the home would be positive, and the net difference between the value of the home and the debt owed on the mortgage could very well be a positive component of net worth.