As we all know net worth is calculated as Assets - Liabilities (mortgage, credit card debt, auto loan....), and since house value (minus mortgage balance) is counted as an asset, and house prices have gone up by 42% it leaves Americans with a massive gain in net worth of +37%. Of course a home is not a liquid asset, but it can be sold, and money can be borrowed against it, so people have more assets than ever. You won't heat this on FOX. Why the average American family's net worth increased 37% https://www.npr.org/2023/10/18/1206830922/family-wealth-income-inequality-finances-fed-survey Americans' family finances overall improved in recent years, despite the economic upheaval caused by the pandemic, according to a new survey from the Federal Reserve. The average family's net worth jumped 37% between 2019 and 2022. That's the largest three-year increase since the Fed began conducting the survey more than three decades ago. The survey also found the wealth gap between rich and poor narrowed somewhat during that period. Temporary government relief measures tied to the pandemic may have contributed to the widespread gains.
Much of that results from a reduction in the value of the dollar. Partly it resulted from an inadequate supply of housing. Government never talks in constant dollars since it is the cause of the devaluation of the dollar.
No. The dollar is strong. Home values exceeded inflation by 207% Home builders couldn't be happier in this market.
Housing affordability is at 30 year lows. This is what happens when democrats are in charge. This is Jimmy Carter all over again. You think you're getting rich but a decade later you woke up and figured out you got poorer.....the government is lying about inflation rates.
Democrats fault even in the red States? Yes, its true house values have appreciated by a lot, which is why net worth of Americans is so high right now. We are short 650 000 construction workers which drives up prices and also slows down construction time.
yup homes are worth more if you sell yours, you will be paying more to buy a step-up home, or move to a more desirable locale. If you sell your home and look to rent, you will be shocked at rent rates. Go buy a new car etc etc It's a great single factoid talking point by the Democrat OP. Hey, my house is worth more. But it does not mean that my stock in life is better because all houses now cost more as do rents Seriously, the OP tries to put this out there as a Democrat pom pom waving item. Sheesh. But, it being a link to an NPR article does it surprise anyone
That would depend on what you do. Sell to buy a new one in a cheaper location. Buy something in another country. Buy CDs and live out of interest in Postrugal. Take HELOC to invest. Higher net worth also qualifies you to a better business loan, if you are thinking about starting a business. Positive minds think different than yours. Actually its a survey from the Federal Reserve: https://www.federalreserve.gov/econres/scfindex.htm Those people who read the article knows this, while others, such as yourself, assume its something else. No one said anything about Dems either. It seems you hate the news out of fear of Dems getting partial credit. Bless your heart. Based on your posts, your life sounds like one endless misery.
Coming from the fella who thinks a national economy can and should be judged solely by the stock price of Sberbank. Home prices have certainly been skyrocketing, as we all can agree, but there is no Biden Administration policy that could be blamed for it. It is part of the inflation that started before Biden was even in office long enough to have any potential influence over it.
I didn't say it was weak. I said it is worth less. The dollar has lost more than 90% of its value during my lifetime. It is losing value pretty rapidly now as the government prints its way out of the spending. You and I will not agree on the definition of inflation. It isn't that home values increased. It is that homes require more money to buy because the value of the dollar decreases. It has been going on like this for nearly a century. Government statistics are not your friend. Why do you think prices haven't decreased after all the "inflation?" Now you know.
nah I simply point out that posts from Democrat supporters such as yourself always sugar-coat the reality. Your suggestion is sell and leave the country sell and move away to a cheaper region Sadly, your Democrat blinders (and it's obvious) stop you from seeing that you are stating the same thing that I did. The increased value is worthless unless you pack up and leave. Perhaps you should gather facts prior to posting Democrat talking points. It will spare you the embarrassment.
