Degrowth

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Discussions about degrowth and all sorts of related topics. This includes UBI, economic democracy, the economics of green technologies, enviromental legislation and many more intressting economic topics.

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Trickle Down Economics (eupolicy.social)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 3 points 3 months ago* (last edited 3 months ago) (1 children)

I’m not sure that’d work. I’m pretty sure I make triple the median income and I have barely any assets and my net worth is like -$700k while I pay off my mortgage.

The median income is incredibly low.

[–] [email protected] 3 points 3 months ago (2 children)

How could your net worth be -700k do to a mortgage, wouldn't the asset offset the debt, so unless you owed 700k on a house post it being repossessed the $x house would be net zero or positive in most situations when you purchase, unless the house devalues faster than the rate at which you pay it off?

[–] [email protected] 3 points 3 months ago

Yes you’re correct. The asset offsets the debt. It was a joke but it does feel like that at times. Hopefully it’s paid off by the time I retire

[–] [email protected] 1 points 3 months ago

Home owners don’t know what they have