Is a home an asset or liability?

t-homo · 12-14-2009, 05:27 PM

Which do you think and why?

pauldun170 · 12-14-2009, 05:28 PM

House is an asset
Mortgage is a liability

Bluestreak · 12-14-2009, 05:29 PM

Quote:

Originally Posted by pauldun170

House is an asset
Mortgage is a liability

Very well put.

shmike · 12-14-2009, 05:30 PM

Quote:

Originally Posted by pauldun170

House is an asset
Mortgage is a liability

Thanks Cap'n.

t-homo · 12-14-2009, 05:31 PM

Quote:

Originally Posted by pauldun170

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)

shmike · 12-14-2009, 05:32 PM

I wish more people treated their home as a liability rather than an "investment".

pauldun170 · 12-14-2009, 05:36 PM

Quote:

Originally Posted by t-rock

Why do you consider the house an asset though?

Because of the dictionary.

Cutty72 · 12-14-2009, 05:36 PM

It is a liabilty when you first purchase it.

As you maintain/improve it and make payments on it, it becomes an asset.

An asset by def is an item of ownership convertible into cash, which a house is.

pauldun170 · 12-14-2009, 05:44 PM

I own a structure called a house.
In order to purchase this structure, I got SECURED loan.

The value of the home after the loan agreement is irrelevant.
It's mine. Its an asset.

Basic stuff

Particle Man · 12-14-2009, 05:47 PM

both

it's an asset until something happens to it and makes it a 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

12-14-2009, 05:27 PM	#1
t-homo WSB Champion Join Date: Feb 2008 Location: Springfield, MO Posts: 7,146	Is a home an asset or liability? Which do you think and why?

12-14-2009, 05:32 PM	#6
shmike Follower Join Date: Nov 2008 Posts: 5,549	I wish more people treated their home as a liability rather than an "investment". __________________ Racing For Smiles

12-14-2009, 05:47 PM	#10
Particle Man Custom User Title Join Date: Nov 2008 Location: Central NY Moto: 2003 SV650S Posts: 14,959	both it's an asset until something happens to it and makes it a liability __________________ I'm not "fat." I'm "Enlarged to show texture." Handle every stressful situation like a DOG: If you can't eat it or hump it, pi$$ on it & walk away.