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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Exacctnt who wrote (72552)	12/30/1999 9:20:00 PM
From: Thomas M.	Read Replies (1) \| Respond to of 132070

Homeowners' equity is at multi-decade lows, which means people are mortgaged to the hilt. I'm not totally disagreeing with you, this number might be bogus. I'm just thinking out loud. Tom

To: Exacctnt who wrote (72552)	12/30/1999 10:31:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 132070

<<How about retirement savings, autos, personal possessions>> Haven't you heard the stats. that 30-40% of the people in this country have no retirement account? And about the same percentage of the people have no saving account either? What is the population living in nursing homes? Average spending down time for these elderly is 6 months (means to be eligible for the Medicaid). And when they are on Medicaid, their houses, if they still haven't transferred under their children's name, are state gov. property. Translate: after they die, the state gov., will auction their houses to recover the Medicaid cost. And what is the percentage of the total population who are on Medicaid? My guess is >10% if not higher, I might be wrong. And you cannot have much net worth to be on Medicaid. And how many people work on minimum wage? If you really expect these people have much net worth, perhaps you should think again. Regards.

To: Exacctnt who wrote (72552)	12/30/1999 11:39:00 PM
From: Oblomov	Read Replies (1) \| Respond to of 132070

Median Savings of U.S. Households = $1000 This was released a few months ago: consumerfed.org Very sobering.

To: Exacctnt who wrote (72552)	12/31/1999 9:44:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Exacct, Clinton is a liar you cannot believe everything he says. I am not sure of the figure but perhaps half of American households own their homes. I found some figures from 1995 % of cash, marketable securities, iras, keoghs 35% have under $1000. 19% have between $ 1,000 and $5000; 9% between $5000- $10,000 only 9.3% have over $100,0000 . While home equity may mitigate the comparison I don't think it helps the bottom 40% keep in mind many put little money down and borrow against their homes. I seem to recall hearing that 33% of home owners have no mortgage. Autos - about half are leased and many more financed but I suppose those debt free clunkers are worth something-g- Mike