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You are living in a bubble. This may be true for you and the people you associate with, but for the majority of Americans, it's not true in the slightest.
by Sohcahtoa82 5y ago
You are living in a bubble. This may be true for you and the people you associate with, but for the majority of Americans, it's not true in the slightest.
- notch656a 5y agoMedian household wealth is over $100k. Not only is it true far more than the slightest, it's true of the majority of American households.
- nly 5y agoThis _includes_ property. The following source does indeed show a 50th percentile (median) household wealth of $100K, but if you read the damn thing it shows the median contribution from property is $120K, which presumably means, if you were to exclude property owners, the average would be MUCH closer to 0. It also shows that 30% is contributed overall from property and another 30% from retirement accounts... Which can't be accessed until late in life and don't help you cover unexpected expenses. Link: https://www.census.gov/content/dam/Census/library/publications/2020/demo/p70br-170.pdf https://www.census.gov/content/dam/Census/library/publicatio... > The assets with the highest median values are primary home equity and rental property equity. The median value for home equity and the median equity in rental prop- erties, which are not statistically different from each other, were $118,000 and $120,000, respec- tively
- thehappypm 5y agoWhat’s the problem with including property? Ever heard of a cash-out refinance?
- thehappypm 5y agoI disagree. We’re burned out because in the last 14 years we’ve seen two gigantic recessions. They’re not always catastrophes!