• glimse@lemmy.world
    link
    fedilink
    arrow-up
    4
    arrow-down
    1
    ·
    2 days ago

    If I get a mortgage on a million dollar house, my net worth is not a million dollars

    • bluGill@fedia.io
      link
      fedilink
      arrow-up
      4
      ·
      2 days ago

      It is in 30 years when the loan is paid off. Small farms commonly have been in the famaily for 100 years so the farmer is worth a million making $50k or some such.