Reference Vol.84 No.1, page 126, Americans and Money. "The article states that the median household also has $8,800 in debt, $3,000 of whichis in consumer loans, including credit card debt." Did they eliminate homeowners? Or was mortgage debt eliminated from this survey? I wonder what else was eliminated. For example under financial assests were 401Ks, IRAs, cash value of life insurance, etc. considered? Was home equity overlooked to establish the $35,000 number for net wealth?

-- BigDaddy232 (DSev347385@aol.com), January 01, 2000

Answers

Bigdaddy, I agree about the mortgage debt, I think it must have been excluded. And there is value (to us homesteaders) to the $50 you spend on the carpentry class or book that saves you time and mistakes. I think the surveyors were hung up on consumer credit debt.

I get obsessed with paying off the land/house myself. We are very close and hope to complete payments this year. Its a good feeling and saving doesn't even feel like deprivation!

-- Anne (HealthyTouch@hotmail.com), May 09, 2000.