Well, "paper rich" is dicey. It means that you may have the burdens of money, but few of the advantages (like actually being able to spend it).
Farmers, for example, are often multimillionaires "on paper," but don't have a pot to piss in.
Farmers, for example, are often multimillionaires "on paper," but don't have a pot to piss in.
Owner-occupiers can and do refinance to turn their wealth into cash. It's routine.
So do you. I assume that you like to eat? Farmers are how that happens.
> refinance
Are you familiar with the downsides of refinancing?
Yes. Actual food, not government-subsidized high fructose corn syrup.
And I have enough knowledge on the matter to know who benefits most from such subsidies. It's not your "average joe" multimillionaire farmer.
Same thing for farmers.