Re:'Heads we win, tails you lose': how America's rich turned...
by Gibbon1 on Sunday April 26, 2020 @06:19PM
(#22990776)
> because old people have generally spent their lives saving it.
Hah
My old man and his wife have a couple of million in real estate and paper assets. For the most part they didn't 'save' any of it. It's theirs due to policies that promote asset inflation.
Seriously. They bought houses in the early seventies for probably around $80k total. Adjusted for wage/price inflation, $500k. Financed natch. Now worth about $4 million. Yeah their 'savings' amounts to about 12% of their real estate wealth. Likely even less percentage of their paper wealth.
Hah
My old man and his wife have a couple of million in real estate and paper assets. For the most part they didn't 'save' any of it. It's theirs due to policies that promote asset inflation.
Seriously. They bought houses in the early seventies for probably around $80k total. Adjusted for wage/price inflation, $500k. Financed natch. Now worth about $4 million. Yeah their 'savings' amounts to about 12% of their real estate wealth. Likely even less percentage of their paper wealth.