Comment on Tariff living
Eheran@lemmy.world 4 days agoHow are you poorer? Not only do you now own (more) of the house (as in paying the loan) but it is also worth more?
If the value of your house would now be 1/10, would you say you are now far richer?
kn33@lemmy.world 4 days ago
While the value of their assets might be higher, it’s hard for that to matter in a practical way. Everything costs more and the bank balance isn’t healthy. The only way for the house gaining value to help with that is to take another mortgage on it and pay for things with that. If you do that, though, you have to pay it back and it doesn’t actually end up helping in the long run.