From what I read, for the majority of people, their house is the main source of “net worth.” Employer retirement savings might be the only other “wealth” they had. When house prices fell, that was, over all, a large decline.
“From what I read, for the majority of people, their house is the main source of “net worth.” Employer retirement savings might be the only other “wealth” they had. When house prices fell, that was, over all, a large decline.”
Imagine the people under 30 who have no savings and no house, coupled with low salaries...