Replies

A home is really a liability, so it shouldn’t be looked upon as an “investment” at all. If you live in it for a long time and sell it for a lot more money than you paid for it, then great. If you live in it for a long time and don’t make any money on it, then it just served its purpose as a place to live.

Rich Dad, Poor Dad:
What the Rich Teach Their Kids About Money-
-That the Poor and Middle Class Do Not!
This book will tell you some things that you don't want to hear like a house is not an asset. That financial literacy is different from educational literacy. That your income is not your wealth. Investors are different from savers and so on.

35 posted on 10/08/2007 5:35:22 PM PDT by conservatism_IS_compassion (The idea around which liberalism coheres is that NOTHING actually matters except PR.)

A home is in an asset. The mortgage on the house is a liability. I can’t believe that the Rich Dad/Poor Dad guy has actually made money peddling his nonsense when he apparently doesn’t understand very basic accounting.

36 posted on 10/08/2007 7:11:35 PM PDT by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")