This question may have multiple answers not sure which is correct.

If you correctly modified his balance sheet, you will see that Morty's net worth does not change! It's the same $241,000 after buying the apartment as it was before. Whether you got the answer right or wrong, watch this 6-minute explainer of what's going on here. Then come back here and read on... In an earlier question, I asked you if his net worth would be higher, lower or the same right after he buys the apartment, and I asked you to write down the answer you were submitting. Did you answer correctly that his net worth would not change? If you did, congrats! If you didn't, there's even more of a reason to celebrate, because I hope you learned something new today. I grade these assignments generously, because I hope you learn from them. OK, so Morty the new homeowner is neither richer nor poorer than Morty the renter was, as we just established. Over time though, due to his buying a piece of real estate, is his net worth likely to go up? Check all the answers you think are correct. 1. Yes, because paying rent does not help him build his net worth. 2. No. If mortgage rates rise, Morty will have to pay more per month. 3. No. He'll need to sell the apartment in order to get richer from it. 4. No, because until the mortgage is paid off, the bank owns the apartment. 5. Yes, because market value of real estate tends to go up over time. 6. Yes, because every mortgage payment he makes reduces his debt. 7. Yes, because real estate owners are generally richer than renters