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Basically, everyone bar the top 1-2% of wealthy people have most of their "wealth" in their home. It's not liquid though, and assuming you don't want to move (w
by disgruntledphd2 1y ago
Basically, everyone bar the top 1-2% of wealthy people have most of their "wealth" in their home. It's not liquid though, and assuming you don't want to move (which most people don't) it doesn't actually benefit you as you'd need to spend the gains to get another place to live.
- jebarker 1y agoI guess my question was really one of definitions. I assumed the upper class are a subset of the top 1-2%, but maybe they're in a league of their own?
- disgruntledphd2 1y agoYeah, most of my information on this comes from Piketty's capital in the 21st century which is a very good read. Even if you dislike his politics, the dataset he and collaborators have built is very informative.
- Robotbeat 1y agoIt benefits quite a bit as you can use its equity for retirement.
- disgruntledphd2 1y agoPeople tend to avoid that though, as they don't want to lose the relationships they've built up in that area.