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10-14-2009, 01:24 PM
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#21
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Moderator Emeritus
Join Date: Oct 2007
Location: Portland
Posts: 4,946
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Um. I are one of those...
My house WAS around 18% of my net worth. Now it's around 10%. And no, that's not because I've done really well in my other investments the past couple of years.
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10-14-2009, 02:02 PM
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#22
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Thinks s/he gets paid by the post
Join Date: Mar 2005
Posts: 2,603
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I am still ~75% real estate ... but the primary residence is ~10%.
__________________
FIRE'd since 2005
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10-14-2009, 02:21 PM
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#23
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Recycles dryer sheets
Join Date: Dec 2007
Posts: 482
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Quote:
Originally Posted by smileydog
My home is about 13% of NW. So the question that comes to mind when reading an analysis like this is - how is the heck will this demographic ever retire?
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Many in this demographic won't retire, or at least won't retire in the way that we think about it. Here is a scenario I am too familiar with.....They will quit working full-time and take on part-time work until they suffer medical issues that causes them to quit work all together. When they are totally spent, they will ask their children to keep them afloat. It's not a pleasant scenario for the parents or the children. My part in all this?......I am one of the buoys.
__________________
Retire date Jan. 10, 2018
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10-14-2009, 03:04 PM
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#24
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Full time employment: Posting here.
Join Date: Aug 2006
Posts: 564
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Another Californian, house is 14% of NW. I don't include it in my NW.
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10-14-2009, 04:12 PM
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#25
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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Wow... 15% is our number too. Before the crash our house as a lower % of our assets. I live in the mid-west and home values did not rise or drop as much as the west coast. But we did take a hit by the stock market which increased the house as a % of total net worth.
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10-14-2009, 05:05 PM
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#26
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,796
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My house if about 5 percent of my net worth.
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10-14-2009, 05:22 PM
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#27
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,525
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Interesting that a lot of responders seem to cluster around 15% of NW. Maybe an interesting correlation FI/ER = no more than 15% or so of NW devoted to main residence?
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10-14-2009, 05:52 PM
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#28
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,328
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Makes a big difference where you live. I would guess my house (fully paid off) is about 20-25% of my net worth. Houses are expensive here in DC.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
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10-14-2009, 05:56 PM
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#29
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Our house is a decent chunk of our networth. We have a house in California vacation land. Plan on selling in retirement and move to someplace cheaper. DW works with quite a few people who are RN's from other states and even out of country. Many plan to move back after they are done working.
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10-14-2009, 06:01 PM
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#30
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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I'm another in the ~15% category...
__________________
Numbers is hard
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10-14-2009, 08:02 PM
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#31
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,796
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Quote:
Originally Posted by donheff
Makes a big difference where you live. I would guess my house (fully paid off) is about 20-25% of my net worth. Houses are expensive here in DC.
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Very true. I have friends in NoVA and my house would easily sell there for 3 or 4 times what I paid here in western PA when I bought it new 5.5 years ago. Location, location, location.
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10-14-2009, 08:25 PM
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#32
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Full time employment: Posting here.
Join Date: Oct 2007
Posts: 798
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Quote:
Originally Posted by WhoDaresWins
Very true. I have friends in NoVA and my house would easily sell there for 3 or 4 times what I paid here in western PA when I bought it new 5.5 years ago. Location, location, location.
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Yeah, but our property taxes are probably 3 to 4 times what yours are and I doubt we get a lot more for them.
We are also in the 15% range. We have lived in the same house for 27 years and it has appreciated over 400%. Things were a LOT cheaper in 1982, though our first mortgage interest rate at the time was 14%.
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10-14-2009, 08:41 PM
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#33
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2003
Location: Kansas City
Posts: 7,968
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2% (counting equity only) and I'd rather rent and get it down even lower.
heh heh heh - I'm a member of the 30 yr mortgage camp, not the the paid off house group. .
Note - pre Katrina I was ballpark 15% in New Orleans give or take a couple percent.
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10-14-2009, 09:36 PM
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#34
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2007
Posts: 13,227
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Not sure of my current home value but I'd guess it's around 30-35% of my NW including the home. I had planned on about 15-20% when I built, but it wound up costing more than I planned, and increased in value as the rest of my NW went down. At one point it was probably 50%.
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10-15-2009, 03:28 AM
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#35
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Moderator Emeritus
Join Date: Aug 2007
Location: Northern Illinois
Posts: 16,600
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Our house and condo are about 30% of our net worth. I don't consider their value as part of our retirement nest egg. I do plan on downsizing and then selling real estate if I make it past mid 80's
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10-15-2009, 07:03 AM
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#36
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Full time employment: Posting here.
Join Date: Feb 2006
Posts: 599
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Also about 15%; wish it was about 1/2 that.
Don't include house in NW, or what I figure my SWR on.
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10-15-2009, 07:09 AM
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#37
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
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My paid for home is maybe 15% of my net worth.
Hard to tell because I'm out in the boondocks, albeit in a very desirable area (crime very low) compared to other locales. If I decided to sell, it would go quickly as an older but very affordable starter home for young couples who aren't afraid of a little snow. I keep it well maintained.
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
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10-15-2009, 11:33 AM
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#38
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,674
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Quote:
I'm out in the boondocks, albeit in a very desirable area (crime very low) compared to other locales
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Confirms my belief that dirt, rocks, and trees will generally not commit any crimes.
__________________
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
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10-15-2009, 12:38 PM
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#39
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
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Quote:
Originally Posted by mickeyd
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Confirms my belief that dirt, rocks, and trees will generally not commit any crimes.
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Oh, there are some local folks who live outside the law and society in general.
But nowhere near me TG.
It's the coydogs I fear the most...Hooooooooooowwwwwwwllllllll
[end of threadjack ]
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
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10-15-2009, 10:20 PM
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#40
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Thinks s/he gets paid by the post
Join Date: Mar 2007
Posts: 1,860
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The issue is not that most of us don't have enough house, but rather MOST OTHER people don't have enough investments. If you own a $70,000 house and $30,000 in stocks, then you've hit the 70% they mention...and sadly I think this is where many Americans are.
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