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> Then you must be pretty rich. Not at all! If you own a house or rent a tiny apartment and live frugally you can do that with a middle-class income.
by puPoh 7y ago
> Then you must be pretty rich.
Not at all!
If you own a house or rent a tiny apartment and live frugally you can do that with a middle-class income.
- abyssin 7y agoOwning a house probably makes you pretty rich in the eyes of many people.
- disiplus 7y agoif you own a house you are rich.
- refurb 7y ago70% of Americans own their own home. Are 70% of Americans rich?
- docdeek 7y agoI would expect 70% might have a mortgage but owning - as in not having to pay the mortgage because you own the home entirely - would be well under 70%.
- Spivak 7y agoIf you’re under 35 and own your home outright you’re either rich or your parents are.
- icebraining 7y agoNo, 70% live in a non-rented home (an adult son living in their parent's home is also counted, for example). Also, only 34% are fully paid off.
- mrlala 7y agoErr, are you saying 70% own their own home (i.e., no mortgage) or 70% live in a house which some percentage >0 and <90% is owned by the bank? There's kind of a big difference there...
- skinnymuch 7y agoYou don’t own the house until you’ve paid off your mortgage. If you’re doing that under 50, you’re probably pretty decently well off. And also if it’s actually you who owns the house and not your sibling or parents who you’re living with.
- imtringued 7y agoIf you prepay all your expenses you can live on $0 a month... That's not a very useful argument.