yes, they very much do. most people aren’t selling their 401K anytime soon if they aren’t in their 60s.
but the value of that asset very much impacts their sense of financially security and their spending habits. a drop in the stock market doesn’t impact people day to day, but it very much causes them to belt tighten.
i was only able to go to college because of the appreciation on my parents house. they never had the income to pay for college, but since our hose went from 200K to 400K they were able to get me into college. a lot of people have only been able to build financial security by leveraging the value of their home for loans.
So your parents borrowed against the value of their home to put you through college. They could have also taken out parent plus loans to do the same thing. Why is this an argument for letting home prices soar?
you can’t take out loans if you have no collateral to back up the loan.
the could not have taken out the loan without the housing value ti back up the loan.
do you not understand how loans work? you can’t just get 50K from the bank without collateral.
the point is most americans have banked their entire lives on the value of their home. if you sudden deprecation everyone’s home by 25% the economy will go into a depression.
it’s not an argument for or against it. it’s the reality of the situation.
yes, they very much do. most people aren’t selling their 401K anytime soon if they aren’t in their 60s.
but the value of that asset very much impacts their sense of financially security and their spending habits. a drop in the stock market doesn’t impact people day to day, but it very much causes them to belt tighten.
i was only able to go to college because of the appreciation on my parents house. they never had the income to pay for college, but since our hose went from 200K to 400K they were able to get me into college. a lot of people have only been able to build financial security by leveraging the value of their home for loans.
So your parents borrowed against the value of their home to put you through college. They could have also taken out parent plus loans to do the same thing. Why is this an argument for letting home prices soar?
you can’t take out loans if you have no collateral to back up the loan.
the could not have taken out the loan without the housing value ti back up the loan.
do you not understand how loans work? you can’t just get 50K from the bank without collateral.
the point is most americans have banked their entire lives on the value of their home. if you sudden deprecation everyone’s home by 25% the economy will go into a depression.
it’s not an argument for or against it. it’s the reality of the situation.