That's great, problem is, debt is still rising faster then household net worth and household net worth mostly comes from unrealized realestate worth. If the value of the realestate falls, so does the net worth. Debt, however, remains, since it is realized or in other words, already liquid and spent.
I'd be interested in a source that gives that info. Even if true, net worth already includes debt, and it's still rising, in fact almost doubled over the last 10 years.
and household net worth mostly comes from unrealized realestate worth.
Actually, real estate equity only makes up $10.9 trillion of the $51 trillion total.
Saying this line over and over might make it believed, but it will never make it true.
We're not bad off. We all know wages are not down --well, ok maybe your full-time-payroll-large-company-male-median from '77 to '01, but I'll withhold judgment until I see where those stats came from. We all know we're better off --everyone can see for themselves that total incomes are way up and wealth is way up. That stuff about debt being greater than net wealth or most assets are from the real estate bubble --horse hockey. We all went to school and know that net worth is what you have when you subtract debt from assets, and anyone can look up wealth data on the web and see that and that home equity is less than a fourth of total wealth ($17 trillion out of $49 trillion).
