Having a mortgage on a house doesn't make you "broke". Just because you are exceedingly conservative with money doesn't mean your standards preclude the average person from obtaining a home.
If your net worth is negative, you are literally, by definition, broke.
If you took out more loans than you have assets, you are broke.
Yeah, the US economy is f'ed up, roofs to live under should not be this expensive. If you think a huge fraction of the economy borrowing money at high interest rates to have basic life necessities, despite being employed, is normal, you have been brainwashed by the system.
If you take out a million dollar loan for a million dollar house, then your net worth is 0. Which is actually a pretty stupid starting point, because most people wouldn't buy a house and get a mortgage without having savings. In other words, if you have $300k 401k, 300k liquid savings, and then buy a $1m house with an $800k mortgage then your net worth is $400k + $100k + $1m - $800k or, in other words, +$700k.
Yes some people push it, no that's not what I'm talking about, as your argument was that you must have enough assets to purchase a house cash before you can "not be broke buying a house."
