Welcome home, fellow Gator.

The Gator Nation's oldest and most active insider community
Join today!

Huge Surge in Household Net Worth

Discussion in 'Too Hot for Swamp Gas' started by mdgator05, Oct 18, 2023.

Page 2 of 7
  1. Oct 19, 2023 #21
    GCNumber7

    GCNumber7 VIP Member

    5,992
    480
    518
    Apr 3, 2007
    How does it allow for less savings? How would you pay for an unexpected large expense with your primary home equity? The only way to tap into it is selling (and now you have buy another house at much higher interest rates), or get a HELOC which is probably going to be at least 11-12% APR.

    If you have a bunch of stocks then this discussion doesn’t really apply.
     
    • Winner Winner x 1
  2. Oct 19, 2023 #22
    92gator

    92gator GC Hall of Fame

    14,987
    14,521
    3,363
    Jun 14, 2007
    Like I said...campaign on it.
     
  3. Oct 19, 2023 #23
    mdgator05

    mdgator05 Premium Member

    17,155
    2,197
    1,718
    Dec 9, 2010
    If you have a ton of home equity and have no other investments, that isn't really a smart economic decision. You should balance investments somewhat. Regardless, retirees can access it with reverse mortgages (not encouraging that, but you shouldn't be entirely reliant on your home equity either). Younger folks can access it through a variety of methods as well. Worst case, you could always sell the house and move to the rental market with a substantial chunk of cash.
     
    • Funny Funny x 1
  4. Oct 19, 2023 #24
    mdgator05

    mdgator05 Premium Member

    17,155
    2,197
    1,718
    Dec 9, 2010
    I'm not running for anything. Just pointing out facts.
     
  5. Oct 19, 2023 #25
    92gator

    92gator GC Hall of Fame

    14,987
    14,521
    3,363
    Jun 14, 2007
    Wasn't really meaning you run on it.

    I'm saying let the Dems run on Biden's record. I'm sure he'll win by a landslide, just like Reagsn did. :cool:
     
    • Fistbump/Thanks! Fistbump/Thanks! x 1
  6. Oct 19, 2023 #26
    mdgator05

    mdgator05 Premium Member

    17,155
    2,197
    1,718
    Dec 9, 2010
    Do you think it is a good thing or a bad thing that people's wealth increased by more over that three year period compared to any other three year period since they started running the survey?
     
    • Funny Funny x 2
  7. Oct 19, 2023 #27
    92gator

    92gator GC Hall of Fame

    14,987
    14,521
    3,363
    Jun 14, 2007
    I think it's an illusuon.
     
    • Agree Agree x 1
  8. Oct 19, 2023 #28
    mdgator05

    mdgator05 Premium Member

    17,155
    2,197
    1,718
    Dec 9, 2010
    How so? Did your investments not increase a lot during that period?
     
    • Come On Man Come On Man x 1
  9. Oct 19, 2023 #29
    92gator

    92gator GC Hall of Fame

    14,987
    14,521
    3,363
    Jun 14, 2007
    I'm 1 vote. Let the dems see how their Guage flesh with the electorate...
     
  10. Oct 19, 2023 #30
    mdgator05

    mdgator05 Premium Member

    17,155
    2,197
    1,718
    Dec 9, 2010
    That doesn't really answer either question.
     
  11. Oct 19, 2023 #31
    Gatorhall

    Gatorhall VIP Member

    2,803
    1,302
    2,073
    Apr 15, 2007
    North Florida
    It’s called Bidenomics and contrary to what sleepy Joe try’s to convince us of “ITS NOT WORKING”
     
    • Agree Agree x 1
  12. Oct 19, 2023 #32
    mdgator05

    mdgator05 Premium Member

    17,155
    2,197
    1,718
    Dec 9, 2010
    So you think more net worth, after accounting for inflation, is not a good thing?
     
  13. Oct 19, 2023 #33
    Gatorhall

    Gatorhall VIP Member

    2,803
    1,302
    2,073
    Apr 15, 2007
    North Florida
    Dude all I know everything has gone way up and my income hasn’t. Simply math.
     
    • Best Post Ever Best Post Ever x 1
  14. Oct 19, 2023 #34
    mdgator05

    mdgator05 Premium Member

    17,155
    2,197
    1,718
    Dec 9, 2010
    And you have no investments? BTW, if your income hasn't gone up at all since 2019, I'd start looking for another job. Almost everybody's income increased during that time.
     
    • Disagree Bacon! Disagree Bacon! x 2
    • Agree Agree x 1
  15. Oct 19, 2023 #35
    Gatorhall

    Gatorhall VIP Member

    2,803
    1,302
    2,073
    Apr 15, 2007
    North Florida
    I’m retired and on social security so the small crumbs I get every year doesn’t keep up with the increases in every frigging thing we have to have. My family is doing fine because I planned for my retirement but quit trying to convince us the economy is doing fine. Not buying it and most Americans don’t ethier.
     
    • Agree Agree x 1
    • Winner Winner x 1
  16. Oct 19, 2023 #36
    mdgator05

    mdgator05 Premium Member

    17,155
    2,197
    1,718
    Dec 9, 2010
    Okay, so something doesn't add up then. You are saying that you have "small crumbs" but that you are "doing fine because I planned for my retirement." So do you have investments that increased in value or not?

    Also, if you are relying on Social Security for income, that has verifiably increased. So your first claim is simply not true.
     
    • Agree Agree x 2
  17. Oct 19, 2023 #37
    92gator

    92gator GC Hall of Fame

    14,987
    14,521
    3,363
    Jun 14, 2007
    It answers plenty for what we're discussing here.

    Here's what I'll add--when the economy is doing well, my business clients blow my phone up. When it's not going so well, I get lots of bankruptcy, foreclosure defense, evictions (both sides), lawsuit defenses, and business clients asking for payment plans

    Based on that Guage, I say....let Biden run on his record. That'll suit me just fine.

    :cool:
     
    • Fistbump/Thanks! Fistbump/Thanks! x 1
  18. Oct 19, 2023 #38
    mdgator05

    mdgator05 Premium Member

    17,155
    2,197
    1,718
    Dec 9, 2010
    It seems like you are avoiding the questions. I wonder why that is. Is it because the answer to the questions don't help your narrative?
     
  19. Oct 19, 2023 #39
    Gatorhall

    Gatorhall VIP Member

    2,803
    1,302
    2,073
    Apr 15, 2007
    North Florida
    I am doing fine because everything I have is paid off except my truck which is about paid off. Get your head out of the sand and realize there are a lot of people who are in bad shape I just thank the good Lord I’m not one of them.
     
    • Winner Winner x 2
  20. Oct 19, 2023 #40
    Orange_and_Bluke

    Orange_and_Bluke Premium Member

    11,073
    2,671
    3,288
    Dec 16, 2015
    House may be worth more but you’re not going to sell and live on the streets are you? Rental market is not helpful, still high.
    Unless you got a big raise it’s not really helping anyone to have your house gain in value. Just higher taxes.
     
    • Agree Agree x 2
Page 2 of 7