Degrowth

790 readers

7 users here now

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.

founded 1 year ago

MODERATORS

[email protected]

921

Trickle Down Economics (eupolicy.social)

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

60 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [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