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  1. Hi there... Can you please quickly check to make sure your email address is up to date here? Just in case we need to reach out to you or you lose your password. Muchero thanks!

Huge Surge in Household Net Worth

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

  1. GCNumber7

    GCNumber7 VIP Member

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    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.
     
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  2. 92gator

    92gator GC Hall of Fame

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    Like I said...campaign on it.
     
  3. mdgator05

    mdgator05 Premium Member

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    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.
     
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  4. mdgator05

    mdgator05 Premium Member

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    I'm not running for anything. Just pointing out facts.
     
  5. 92gator

    92gator GC Hall of Fame

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    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:
     
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  6. mdgator05

    mdgator05 Premium Member

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    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?
     
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  7. 92gator

    92gator GC Hall of Fame

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    I think it's an illusuon.
     
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  8. mdgator05

    mdgator05 Premium Member

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    How so? Did your investments not increase a lot during that period?
     
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  9. 92gator

    92gator GC Hall of Fame

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    I'm 1 vote. Let the dems see how their Guage flesh with the electorate...
     
  10. mdgator05

    mdgator05 Premium Member

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    That doesn't really answer either question.
     
  11. Gatorhall

    Gatorhall VIP Member

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    It’s called Bidenomics and contrary to what sleepy Joe try’s to convince us of “ITS NOT WORKING”
     
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  12. mdgator05

    mdgator05 Premium Member

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    So you think more net worth, after accounting for inflation, is not a good thing?
     
  13. Gatorhall

    Gatorhall VIP Member

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    Dude all I know everything has gone way up and my income hasn’t. Simply math.
     
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  14. mdgator05

    mdgator05 Premium Member

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    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.
     
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  15. Gatorhall

    Gatorhall VIP Member

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    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.
     
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  16. mdgator05

    mdgator05 Premium Member

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    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.
     
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  17. 92gator

    92gator GC Hall of Fame

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    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:
     
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  18. mdgator05

    mdgator05 Premium Member

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    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. Gatorhall

    Gatorhall VIP Member

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    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.
     
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  20. Orange_and_Bluke

    Orange_and_Bluke Premium Member

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    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.
     
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