millionaire
So a tenth of USians own a shitty home they inherited in some godforsaken suburb?
Empire core inflation is fun
Cracker 1: “only 7% of Americans actually own houses. how can we spin this into a positive?”
Cracker 2:
My parents are probably close to millionaires by now considering that their home is worth nearly that much, but was bought for much much less 20 years ago
My grandma paid I think 15k for her home in the 60s and it’s now in the ballpark of 550k.
I’m don’t own a house, fuck those people
Millionaires are not your enemy. Being a millionaire is enough to provide decent housing and a nice living. In reality, we should all be millionaires (or have the lifestyle of a current day millionaire) were wealthy distributed equitably.
In fact, it is important to have those with wealth in the movement as well as the poor and downtrodden. There are those wealthy enough to materially support the cause but not to wealthy that they lose sight of the cause.
This is mostly my personal opinion of course but as others pointed out, a million isn’t really that much. A single million, invested wisely in index funds and bond funds, assuming the similar rate of growth (4%) and stable society, isn’t enough to live “lavishly,” although it would certainly be enough to live as a $40,000 annual budget.
Incredibly misleading wording on this one.
Realistically the money doesn’t exist it’s just potential liquidity, but the feeling of being a millionaire definitely does, those people will never in a million years support even the most lukewarm proto-socialist development and the fact their money is an abstract concept strengthens that conviction because it generates a form of social anxiety
There’s having a million dollars, and then there’s being a millionaire. These are not the same thing.
This is one of those neat fun facts that has a bunch of asterisks next to it. Also, headlines can often be misleading, relative to the content of the article.
Millionaire as in, has 1mil in their bank account? 1 mil in stocks? Or 1mil in assets (home, car, etc)?
IMO, it is way different to have a million dollars in your bank or in stocks, than to have like, an 800k home with a nice job.
Yeah it’s probably something like the sum of all your belongings.
Typical scenario of grandparents bought a house in a poor neighborhood and two generations later gentrification made it 10 times more valuable so their middly privileged grandchildren are now technically millionaires
this
Considering 1 million is arguably an insufficient amount to retire on, I’m honestly sad that number isn’t higher. Retirement is just not something some people are even considering anymore.
In the US that probably ain’t cut it. Here it’d be enough. Depends on your hobbies and lifestyle though. 100k nets me 3k on the cheapest, lowest risk-investment monthly. So 500k for a tiny house and 500k invested and you could have a bare decent life forever.
I worked like 1yr out of boredom in the last 30yrs.
This is just the result of inflation and doesn’t have much to do with wealth. A million dollars is absolutely nothing next to a billion dollars, and that is nothing compared to the wealth of someone like Musk.
Where do they get thsi shit from? No one is getting paid that much to own a home…especially when all the new shit they build is nothing but starting at $350k
s. They don’t have value if it’s all debt!Probably boomers about to die retirement accounts that are being vacuumed away harder than Operations Vac-u-suck.
$1 million dollars isn’t exactly a lot of money these days.
I found a YouTube link in your comment. Here are links to the same video on alternative frontends that protect your privacy:
What if we made a really big version of Connect Four but it’s also a guillotine
Well 100% Poles was millionaires too, during the hyperinflation. At least for a day or two each month before repos and banks eaten what was remaining of our wages after new private masters helped themselves.
