Does homeownership automatically make you middle class?
>>62165743For the most part yes, middle class is about stability and ability to retire. If you own a $250,000-$500,000 home outright (otherwise your question is mostly pointless), you can, in the worst case rent it indefinitely or downgrade and survive. Your costs to live decently also go down by $1500. You are guaranteed basics like being able to get a good night's rest, shower, etc. $500,000 is also very much middle to upper-middle class net worth.All of that combined absolutely says yes.If you are talking about $100,000 down it's a little bit more ambiguous, but in a depressing sense, yes, it's a luxury for most people now.If you are talking about a $120,000 house in the hood or 2 hours away from the city, then the answer is no.
>>62165772What if i have €300k equity in a €700k house?
>>62165783Basically all the home-ownership vs not in terms of networth are worthless spam / idiots trying to push a narrative.If your home's market price is really 700k and you have 300k paid off (as in you own 300k and you didn't pay 300k in just interest, which is common with US mortgages), then you have equity - 10% for liquidity in cash, so you basically have 270k net worth. Is that middle class? Yes, usually. The usually caveat is that if you make 40k, you aren't middle class even with 270k NW, since you are going to be "at risk" soon without raising your income dramatically.Again, middle class is about some sort of believable illusion of stability and being able to live with some minimal dignity, something that is missing for a lot of people today.
>>62165772120k makes you lower middle class and in the turd world middle class.
>>62165946Right, I will agree with that. I made contradictory statements with the 120k house fully owned. Let's say the line for middle class is probably around 300k, and again, that's age & income dependent. Assuming under 35.
>>62165743Yes but the middle class is only top 10% now. Top 1% is upper class and top 0.1% in rich class. 90% of people are poor
>>62165743To be middle class you must have at least one full-time servant.
>>62165743If you weren't part of the top 10% in 2025, you're lower class
>>62166020Middle class in marxism means owning the means of production = your own property where you can let machines or humans do work for you. 120k could be a mixed-use building like your home with a parterre shop, a cheap one in a lcol area, so I think lower middle class is a proper term.
