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architect359 Donating Member (544 posts) Send PM | Profile | Ignore Wed Aug-03-05 09:25 AM
Response to Reply #14
20. And on top of that...
Edited on Wed Aug-03-05 09:25 AM by architect359
...you have housing markets in places like the San Francisco region, for example, where a "fixer-upper" is already in same extreme cases to be in the 300K to 400K range. With figures like this, no wonder the mean gets skewed.
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  -CNN: The zero-savings problem ("saving rate at zero - that's right, nada") DeepModem Mom  Aug-02-05 10:32 PM   #0 
  - Tulips! Get your tulips here!  Art_from_Ark   Aug-02-05 10:41 PM   #1 
  - Ya got that right.  PurityOfEssence   Aug-02-05 11:15 PM   #4 
  - funny you should mention the vehicles they drive.  dweeb   Aug-03-05 12:05 AM   #6 
  - I drive a Honda Civic and don't even like war movies  osaMABUSh   Aug-03-05 12:17 AM   #8 
  - But look at them now  raccoon   Aug-03-05 08:33 AM   #17 
  - Good point. Article says one of two ways people finance deficit spending  1932   Aug-03-05 09:51 AM   #27 
  - Don't even get me started on cars.  girl gone mad   Aug-03-05 06:41 PM   #49 
  - 2 cars, both cash.  missb   Aug-03-05 07:24 PM   #54 
     - We have 2 vehicles  ninkasi   Aug-03-05 07:42 PM   #56 
  - I don't understand.  Dora   Aug-04-05 11:48 AM   #68 
  - I have a Princess Di beanie, third edition  Changenow   Aug-03-05 10:43 AM   #32 
  - at least you can eat the bulbs if things get really bad  Lisa   Aug-03-05 01:58 PM   #37 
  - I've been able to save some money for when I find a new job  high density   Aug-02-05 10:49 PM   #2 
  - The article says retirement savings are counted as savings even though  1932   Aug-02-05 10:53 PM   #3 
  - no you are misunderstanding  pitohui   Aug-03-05 10:10 AM   #30 
     - Check the article.  1932   Aug-03-05 05:58 PM   #48 
        - interest rates are low  pitohui   Aug-04-05 12:31 PM   #76 
           - I don't think it's investor intelligence that is making home prices rise.  1932   Aug-04-05 05:25 PM   #84 
  - The bling culture  fortyfeetunder   Aug-02-05 11:59 PM   #5 
  - Greenspan!  KT2000   Aug-03-05 12:10 AM   #7 
  - Wow. Imagine what all these folks could do with...  Hekate   Aug-03-05 01:41 AM   #9 
  - Somehow, the government gets away with saying there's no inflation  aint_no_life_nowhere   Aug-03-05 02:40 AM   #10 
  - It is not inflation if they don't devalue the currency  WannaJumpMyScooter   Aug-03-05 06:34 AM   #16 
  - Neocons like it because it means that banks are not holding back that  applegrove   Aug-03-05 02:49 AM   #11 
  - if people begin saving then companies will not make their profits  kodi   Aug-03-05 03:01 AM   #12 
  - It's okay to be illiquid when credit markets are too easy  teryang   Aug-03-05 05:33 AM   #13 
  - An average U.S. household net worth of $400K+?  sadiesworld   Aug-03-05 06:16 AM   #14 
  - Exactly....  sendero   Aug-03-05 06:33 AM   #15 
  - in this case, the wrong statistic  central scrutinizer   Aug-03-05 05:28 PM   #44 
     - Median in 2002 from one source is 59, 706(adj), anyone have a later no.?  FreeStateDemocrat   Aug-04-05 12:37 PM   #78 
        - The median net worth of all U.S. households is $100,894 - Aug. 20, 2004  FreeStateDemocrat   Aug-04-05 12:56 PM   #81 
  - And on top of that...  architect359   Aug-03-05 09:25 AM   #20 
  - Most of that is inflated real estate value  endarkenment   Aug-04-05 10:01 AM   #65 
  - Can someone please explain to me how it works  Coventina   Aug-03-05 09:04 AM   #18 
  - i can explain  pitohui   Aug-03-05 09:57 AM   #28 
     - The one time exclusion  Moondog   Aug-03-05 02:58 PM   #38 
     - even better!  pitohui   Aug-03-05 03:24 PM   #40 
     - 401k contributions are included in the BEA calculation of the savings rate  snippy   Aug-03-05 07:27 PM   #55 
  - NO the bank owns most of those homes until mortage is paid....  ElsewheresDaughter   Aug-03-05 09:12 AM   #19 
  - Add to that  SOS   Aug-03-05 10:59 AM   #33 
     - not true at all  pitohui   Aug-03-05 03:32 PM   #42 
        - Just bought a co-op unit, first home, on the same logic  AuntJen   Aug-03-05 07:43 PM   #57 
  - Spendthrift nation  leftchick   Aug-03-05 09:42 AM   #21 
  - I blame Bush  livetohike   Aug-03-05 09:42 AM   #22 
  - I wanted to open a savings account  catmandu57   Aug-03-05 09:43 AM   #23 
  - 3.15 % interest rate on savings  pitohui   Aug-03-05 09:49 AM   #26 
  - Nationalize the credit card industry...  SteppingRazor   Aug-03-05 09:44 AM   #24 
  - I like the way you think.  redqueen   Aug-03-05 11:21 AM   #36 
  - But seriously folks...  SteppingRazor   Aug-03-05 09:48 AM   #25 
  - this is the core problem  pitohui   Aug-03-05 10:03 AM   #29 
  - illegal immigrants are not stealing good jobs at high pay.  endarkenment   Aug-04-05 12:12 PM   #72 
     - sure they are  pitohui   Aug-04-05 12:24 PM   #75 
  - You don't have to buy a house  LisaM   Aug-03-05 03:11 PM   #39 
  - Back in the 50s, men were buying houses for their families....  tjdee   Aug-03-05 08:49 PM   #60 
  - This has always puzzeled me.  mccoyn   Aug-04-05 01:21 PM   #82 
  - No, but  Dora   Aug-04-05 11:53 AM   #69 
  - Especially when Rick Sphinctorum tells us women shouldn't work  hatrack   Aug-03-05 05:46 PM   #47 
  - I hate to be a wet blanket..  sendero   Aug-03-05 08:38 PM   #59 
  - No offense, but how long has it been since you "first started out?"  shrike   Aug-04-05 10:22 AM   #66 
  - My point is simpler than that..  sendero   Aug-04-05 11:40 AM   #67 
     - While I can't argue with that  shrike   Aug-04-05 12:37 PM   #77 
        - On that..  sendero   Aug-04-05 12:41 PM   #80 
           - Use to be start at bottom & workup now most dead end jobs w/o hope.  FreeStateDemocrat   Aug-04-05 06:48 PM   #85 
  - where do you find $3K cars?  pitohui   Aug-04-05 12:05 PM   #70 
     - I'm in the car business..  sendero   Aug-04-05 03:56 PM   #83 
  - No, but it's hard  zipplewrath   Aug-04-05 12:40 PM   #79 
  - No incentive  wrlwnd   Aug-03-05 10:31 AM   #31 
  - what bank fees?  pitohui   Aug-03-05 03:25 PM   #41 
  - I don't know where you are or  jbnow   Aug-03-05 06:58 PM   #52 
     - a well-off neighborhood in the southeast  pitohui   Aug-04-05 12:12 PM   #71 
  - Might even be safer too,  Megahurtz   Aug-05-05 07:14 PM   #87 
  - No savings here: medical bills wiped me out  Lorien   Aug-03-05 11:16 AM   #34 
  - I save 12.5%  midnight armadillo   Aug-03-05 11:17 AM   #35 
  - I'm a saver......I will not spend unless I have the money to back it up.  Historic NY   Aug-03-05 05:15 PM   #43 
  - Not sure how they figure that. I know plenty of people with actual savings  progressivebydesign   Aug-03-05 05:36 PM   #45 
  - Americans stock up to save more!  zara   Aug-03-05 05:43 PM   #46 
  - What if it turns out that the wise people are the ones....  olddad56   Aug-03-05 07:19 PM   #53 
     - yes it happened in the late 70s also  pitohui   Aug-04-05 12:13 PM   #73 
        - smart posts--but the mania contributes to the inflation, no?  zara   Aug-05-05 11:49 AM   #86 
  - Oh, I thought the tax cuts were supposed to help our economy!  Daphne08   Aug-03-05 06:43 PM   #50 
  - The tax cuts have helped, they have helped the rich get richer.....  olddad56   Aug-03-05 06:52 PM   #51 
  - Less in savings, less money to loan  AuntJen   Aug-03-05 08:02 PM   #58 
  - The Federal Reserve is a private bank it is not part of the US Government  loftycity   Aug-04-05 01:31 AM   #61 
  - Hey, what's the problem? I'll  mbperrin   Aug-04-05 01:42 AM   #62 
  - of course people are not stupid  pitohui   Aug-04-05 12:20 PM   #74 
  - During the next decade there will be a record number of bankruptcies,  Seabiscuit   Aug-04-05 02:11 AM   #63 
  - This is what happens when corporations take over the government  Rex   Aug-04-05 02:26 AM   #64 
 

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