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I'm not an expert, but I don't believe debt reduces your net worth. Irresponsible use of that debt does, but if I borrow $250k to buy a house, the value of tha
by redthrowaway 16y ago
I'm not an expert, but I don't believe debt reduces your net worth. Irresponsible use of that debt does, but if I borrow $250k to buy a house, the value of that house offsets the debt. It's a wash in the end, is it not?
- hugh3 16y agoWell obviously the grandparent should be read as "If my net wealth decreases over a year then should the fine give me money?"