[Gone Forever]

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Your accounting teacher told you an asset is something you own. Fine. A multimillionaire told me that an asset is something that benefits you financially.

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It is both. A home is both. You just don't understand why.


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Please to explain how buying a home benefits you financially. All I can see is consistent loss of money.

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The home is the asset, the mortgage is the liability.

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This is really all you had to say instead of "this is misleading...." You could have saved everybody a lot of time arguing.

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You do know what an investment is, right? Is putting money into your 401K every month a liability, or an asset?


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Please tell me you're not trying to compare something with a guaranteed ROI to buying a home.

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Is the monthly cost of purchasing a home an expense, or a liability?

Is a monthly rent payment on an apartment an expense, or a liability?


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Any liability associated with owning a home or renting an apartment would be considered a cost of living expense.