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Old 09-15-2016, 01:07 PM   #11 (permalink)
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Quote:
Originally Posted by CJOttawa View Post
This correlates with the housing bubble in the US; it's not "real" money but paper-equity based on house valuation.
There are a lot of other factors at play than just the housing market.

Employment, stock market, etc. Real estate is just one piece of the puzzle.
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Old 09-15-2016, 05:21 PM   #12 (permalink)
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The real problem is that they just ask people the question, it's not based on any financial records. I know that if I was to answer this question truthfully it wouldn't be as simple as bank account to mortgage to house appraisal. I would have to log into my company portal to check my 401k, then log in to my money management account to check my IRAs. Then id need to see where my student loans were at. I don't even own a house or carry other debt and still my net worth is that complicated. For someone older then me further along its gotta be a lot more complicated.

Last edited by theangrydragon; 09-15-2016 at 05:58 PM.
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