Degrowth

776 readers

1 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

MrMakabar@slrpnk.net

922

Trickle Down Economics (eupolicy.social)

submitted 3 months ago by MrMakabar@slrpnk.net to c/degrowth@slrpnk.net

62 comments fedilink hide all child comments

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

[–] Fenrisulfir@lemmy.ca 3 points 3 months ago* (last edited 3 months ago) (1 children)

I’m not sure that’d work. I’m pretty sure I make triple the median income and I have barely any assets and my net worth is like -$700k while I pay off my mortgage.

The median income is incredibly low.

[–] LifeInMultipleChoice@lemmy.dbzer0.com 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?

[–] Fenrisulfir@lemmy.ca 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

[–] DancingBear@midwest.social 1 points 3 months ago

Home owners don’t know what they have