3 ms·
> that would be devastating in the short term to the middle class Well, the thing there is, that wealth doesn't really exist for most people. Housing "wealth"
by crooked-v 2y ago
> that would be devastating in the short term to the middle class
Well, the thing there is, that wealth doesn't really exist for most people. Housing "wealth" in the US is basically imaginary because you can't use it without moving somewhere else, and everywhere else is equally expensive!
- chii 2y ago> you can't use it you can't "consume" the wealth. But you can use it by leverage into loans, which can be invested elsewhere to make more money. And if you owned more than 1 property, rental income is an additional vector. The wealth isn't imaginary. It's just illiquid.
- justin66 2y agoHELOCs are a thing.