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2min chapter
One economist's take on popular advice for saving, borrowing, and spending
Planet Money
Wealthy Hand to Mouth or House Rich Cash Poor?
A lot of American households are wealthy hand to mouth or house rich cash poor. It turns out that you can rationalize this behavior if the financial returns to owning an illiquid asset like a house is extremely high. To them, it's worth it to really put as much money into this housing investment as they can even though it causes a lot of bumps in their lives.
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