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Income is different than wealth. If you're making the same (or more even) but paying rent instead of a mortgage you end up in a very different place.
by jrumbut 6y ago
Income is different than wealth. If you're making the same (or more even) but paying rent instead of a mortgage you end up in a very different place.
- JamesBarney 6y agoAn FHA loan only requires putting down 3%. Assuming a 200k house, an average women is earning that much more than her mother in 3 months.
- jrumbut 6y agoAnd yet she would appear to have a lower share of society's wealth than her mother did. If she was just earning more money and had this great opportunity to buy a home you'd think the opposite would be true or at least things would stay level.