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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

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Old 12-14-2009, 05:27 PM   #1
t-homo
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Default Is a home an asset or liability?
Which do you think and why?
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Old 12-14-2009, 05:28 PM   #2
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House is an asset
Mortgage is a liability
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Old 12-14-2009, 05:29 PM   #3
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House is an asset
Mortgage is a liability
Very well put.
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Old 12-14-2009, 05:30 PM   #4
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House is an asset
Mortgage is a liability

Thanks Cap'n.
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Old 12-14-2009, 05:32 PM   #5
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I wish more people treated their home as a liability rather than an "investment".
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Old 12-14-2009, 05:31 PM   #6
t-homo
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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)
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Old 12-14-2009, 05:36 PM   #7
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Why do you consider the house an asset though?
Because of the dictionary.
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Old 12-14-2009, 05:50 PM   #8
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Is a home an asset or liability?
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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.
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Old 12-14-2009, 05:53 PM   #9
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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?
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Old 12-14-2009, 11:58 PM   #10
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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.

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