Go Back   Two Wheel Fix > General > Off Topic
Reload this Page Is a home an asset or liability?

View Poll Results: Is a home an asset or liability?
Asset 17 56.67%
Liability 7 23.33%
I live in tater's whore of an ex-wife's chlamydia infested vag. 6 20.00%
Voters: 30. You may not vote on this poll

Reply
Page 1 of 8 1 23 Last »
 
Thread Tools Display Modes
Old 12-14-2009, 04:27 PM   #1
t-homo
WSB Champion
 
Join Date: Feb 2008
Location: Springfield, MO
Posts: 7,146
Default Is a home an asset or liability?
Which do you think and why?
t-homo is offline   Reply With Quote
Old 12-14-2009, 04:28 PM   #2
pauldun170
Serious Business
 
pauldun170's Avatar
 
Join Date: Nov 2008
Location: New York
Moto: 1993 ZX-11 2008 CBR1000rr
Posts: 9,723
Default
House is an asset
Mortgage is a liability
__________________


Quote:
Originally Posted by Dave View Post
feed your dogs root beer it will make them grow large and then you can ride them and pet the motorcycle while drinking root beer
pauldun170 is offline   Reply With Quote
Old 12-14-2009, 04:29 PM   #3
Bluestreak
What?
 
Bluestreak's Avatar
 
Join Date: Nov 2008
Location: Lancaster, PA
Moto: Dirt
Posts: 578
Default
Quote:
Originally Posted by pauldun170 View Post
House is an asset
Mortgage is a liability
Very well put.
__________________
Lean till you see sparks. If they are coming from your pegs you are doing good. If they are coming from you tank, you've just gained wisdom... Wisdom usually hurts.
Bluestreak is offline   Reply With Quote
Old 12-14-2009, 04:30 PM   #4
shmike
Follower
 
shmike's Avatar
 
Join Date: Nov 2008
Posts: 5,549
Default
Quote:
Originally Posted by pauldun170 View Post
House is an asset
Mortgage is a liability

Thanks Cap'n.
__________________
Racing For Smiles
shmike is offline   Reply With Quote
Old 12-14-2009, 04:32 PM   #5
shmike
Follower
 
shmike's Avatar
 
Join Date: Nov 2008
Posts: 5,549
Default
I wish more people treated their home as a liability rather than an "investment".
__________________
Racing For Smiles
shmike is offline   Reply With Quote
Old 12-14-2009, 04:31 PM   #6
t-homo
WSB Champion
 
Join Date: Feb 2008
Location: Springfield, MO
Posts: 7,146
Default
Quote:
Originally Posted by pauldun170 View Post
House is an asset
Mortgage is a liability
Why do you consider the house an asset though? Because the price of it goes up over the years you live there? (ignore housing price crash)
t-homo is offline   Reply With Quote
Old 12-14-2009, 04:36 PM   #7
pauldun170
Serious Business
 
pauldun170's Avatar
 
Join Date: Nov 2008
Location: New York
Moto: 1993 ZX-11 2008 CBR1000rr
Posts: 9,723
Default
Quote:
Originally Posted by t-rock View Post
Why do you consider the house an asset though?
Because of the dictionary.
__________________


Quote:
Originally Posted by Dave View Post
feed your dogs root beer it will make them grow large and then you can ride them and pet the motorcycle while drinking root beer
pauldun170 is offline   Reply With Quote
Old 12-14-2009, 04:50 PM   #8
fasternyou929
SFL Expatriate #2
 
fasternyou929's Avatar
 
Join Date: Nov 2008
Location: Raleigh, NC
Moto: CBR1000
Posts: 2,043
Default
Quote:
Originally Posted by t-rock View Post
Is a home an asset or liability?
Quote:
Originally Posted by t-rock View Post
Why do you consider the house an asset though? Because the price of it goes up over the years you live there? (ignore housing price crash)
It could be either really, but it's an asset by definition.

And the value of the asset is current market price less your current mortgage payoff. If that gives you a negative number your house has become a liability, which will become painfully evident should you need to relocate.
fasternyou929 is offline   Reply With Quote
Old 12-14-2009, 04:53 PM   #9
t-homo
WSB Champion
 
Join Date: Feb 2008
Location: Springfield, MO
Posts: 7,146
Default
Quote:
Originally Posted by fasternyou929 View Post
It could be either really, but it's an asset by definition.

And the value of the asset is current market price less your current mortgage payoff. If that gives you a negative number your house has become a liability, which will become painfully evident should you need to relocate.
What about the price of PMI, property taxes, upkeep, etc? Should they be factored into how much you pay for the home or neglected?
t-homo is offline   Reply With Quote
Old 12-14-2009, 10:58 PM   #10
askmrjesus
Soul Man
 
askmrjesus's Avatar
 
Join Date: Nov 2008
Location: Everywhere, all the time.
Moto: '0000 Custom Turbo Cross (with jet kit).
Posts: 6,481
Default
Quote:
Originally Posted by t-rock View Post
Why do you consider the house an asset though?
Because he slept in a tent once, and figured out the difference.

If you're not getting divorced, or fleeing the country, a house is an asset.

JC
__________________
The way things are going, they're gonna crucify me.
askmrjesus is offline   Reply With Quote
Reply
Page 1 of 8 1 23 Last »

Bookmarks

« Previous Thread | Next Thread »

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -4. The time now is 10:47 AM.

Two Wheel Fix - Archive - Top
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.