No, 55% of millennials own a home or have a mortgage. These are not the same thing, though they are counted the same by most statistics, especially those that want to pretend the economy hasn’t gotten progressively worse since 1968 which was around the peak of America’s golden age economy.
If you have a mortgage, you do not own your home. It can and will be taken away from you the second you are disabled or otherwise out of work. Over a fifth of chronically homeless Americans were ‘homeowners’ at one point during their lives. Until you have a paid off home you have no possible financial security. You’re infinitely better off than anyone renting, but you are not as good as a boomer who had their home paid off within five years of starting their mortgage.
No, you have an incredibly, ridiculously privileged rich-person life style that cannot apply to the vast majority of people. I don’t know why you think medical bankruptcy is the number one form of bankruptcy in the country and why over half of homeless people are disabled, but it’s not because most people can magically finance themselves out of the crippling reality of the economy.
If you have a mortgage, you do not own your home. It can and will be taken away from you the second you are disabled or otherwise out of work.
This is a false statement. You predicated your argument on this false statement. The rest of what you said has a modicum of truth, but the core principle you used to prop up your argument is false.
Just go back and re-base your argument on something other than the idea that a house isn’t owned until it is completely paid off. Drop that claim, and the rest of your point is perfectly valid. Keeping that claim undermines your credibility. You don’t need that claim to be true to make your point; there is no sense in dying on this particular hill.
No, 55% of millennials own a home or have a mortgage. These are not the same thing, though they are counted the same by most statistics, especially those that want to pretend the economy hasn’t gotten progressively worse since 1968 which was around the peak of America’s golden age economy.
If you have a mortgage, you do not own your home. It can and will be taken away from you the second you are disabled or otherwise out of work. Over a fifth of chronically homeless Americans were ‘homeowners’ at one point during their lives. Until you have a paid off home you have no possible financial security. You’re infinitely better off than anyone renting, but you are not as good as a boomer who had their home paid off within five years of starting their mortgage.
My disability insurance would pay off my house and my car. A HELOC would cover several thousand dollars worth of emergency expenses.
I haven’t paid off my mortgage yet, but I own a very large percentage of my home.
You overgeneralized well beyond the point of absurdity.
No, you have an incredibly, ridiculously privileged rich-person life style that cannot apply to the vast majority of people. I don’t know why you think medical bankruptcy is the number one form of bankruptcy in the country and why over half of homeless people are disabled, but it’s not because most people can magically finance themselves out of the crippling reality of the economy.
This is a false statement. You predicated your argument on this false statement. The rest of what you said has a modicum of truth, but the core principle you used to prop up your argument is false.
Just go back and re-base your argument on something other than the idea that a house isn’t owned until it is completely paid off. Drop that claim, and the rest of your point is perfectly valid. Keeping that claim undermines your credibility. You don’t need that claim to be true to make your point; there is no sense in dying on this particular hill.
Removed by mod
You ok there, bud? Having a bad day or something?
Less than 1% default. Not really socialital collapse.🤷♂️
That’s 2 million people a year btw.
And nowhere close to societal collapse.