The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (6886)	11/17/2002 1:37:10 PM
From: Elroy Jetson	Read Replies (2) of 306849

You'd have to write to John Scowcroft to see what his definitions are. But I suspect I know the answer and it would make him seem ridiculous to most. Tradtional measures of family net-worth exclude the value of a families home, just as it excludes the value of their furniture and other chattel. These peculiar measures often exclude acquisition debt for the home (the original mortgage) but include debt added later such as a home equity loan. One can easily see how such a peculiar system of accounting could show the median net-worth of 55 to 65 year olds is a negative $173k. Some will explain with great gravity and bombast how profound and clever this method of accounting is but, to most, this makes as much sense as counting margin debt but excluding the value of the stocks and bonds in a net-worth counting. To be certain you'll have to ask the referenced wizard for his terms and definitions.

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