• glimse@lemmy.world
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    1 month ago

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

    • bluGill@fedia.io
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      1 month 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.