A Quote by Matthew Desmond
There is a reason so many Americans choose to develop their net worth through homeownership: It is a proven wealth builder and savings compeller.
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Gates's net wealth is greater than the combined net worth of the poorest 40% of Americans (112,000,000 people).
One might ask the question: Is the mortgage interest deduction doing a better job, a worse job, if it's supposed to promote homeownership and savings? Because home ownership is the biggest form of savings in this country. Different people will look at that data and draw different conclusions, but that's just an example of the kind of thing you can pull out of USAFacts and develop a point of view about.
Whites have more than eleven times the net worth or wealth of African Americans. They make greater salaries. Our unemployment rate is twice theirs. You look at the prison system and who that's chewing up.
The truth is that the dream of homeownership is out of reach for too many Americans.
The average net worth of the lower half of the distribution, representing 62 million households, was $11,000 in 2013. About one-fourth of these families reported zero wealth or negative net worth, and a significant fraction of those said they were "underwater" on their home mortgages, owing more than the value of the home. This $11,000 average is 50 percent lower than the average wealth of the lower half of families in 1989, adjusted for inflation.
Not yet have I found any better method to prosper during the future financial chaos, which is likely to last many years, than to keep your net worth in shares of those corporations that have proven to have the widest profit margins and the most rapidly increasing profits. Earning power is likely to continue to be valuable, especially if diversified among many nations.
The distribution of wealth is even more unequal than that of income. ...The wealthiest 5% of American households held 54% of all wealth reported in the 1989 survey. Their share rose to 61% in 2010 and reached 63% in 2013. By contrast, the rest of those in the top half of the wealth distribution ?families that in 2013 had a net worth between $81,000 and $1.9 million ?held 43% of wealth in 1989 and only 36% in 2013.
Jesus said, 'Greater things of these you shall do...' Become a peace builder, a bridge builder, not a destroyer, and the way you do that is through friendships and relationships, and through authentic character.
During the last two years the wealthiest 14 Americans saw their wealth increase by $157 billion. This is truly unbelievable. This $157 billion INCREASE in wealth among 14 individuals is more wealth that is owned, collectively, by 130 million Americans. This country does not survive morally, economically or politically when so few have so much, and so many have so little.
I think Americans have every reason to be worried about ISIS and the network of terrorist groups, because they have proven to be sophisticated and effective in wreaking violence and murder in many parts of the world, including in San Bernardino with their somehow connected radicalization of that couple there.
In 1985, the top five percent of the households - the wealthiest five percent - had net worth of $8 trillion - which is a lot. Today, after serial bubble after serial bubble, the top five per cent have net worth of $40 trillion. The top five percent have gained more wealth than the whole human race had created prior to 1980.
We want to develop innovative ways to promote savings so more Americans can save for their future, but first we need to reject privatization schemes and work together to strengthen Social Security.
Americans should be able to enjoy a secure retirement after a lifetime of hard work. But too many Americans reach retirement without enough savings to supplement their Social Security benefits.
From the peak in 2007 to the trough in 2009, Americans lost $11 trillion of net worth for households and businesses.
America used to have a strong 'moral safety net' for its people. Today that net is badly frayed, not only because families are disintegrating but also because the church doesn't play the same role that it once did in many Americans' lives.
Differences in homeownership rates remain the prime driver of the nation's racial wealth gap.
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