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To: 100-Fold_Return

Rent is money out of your pocket. So is renting a "liability" under your strange definitions?

Its actually an expense, whereas the cost to carry a mortgage is interest expense. Your mortgage is a liability, and your home is an asset. These are basic accounting matters, but cling to your definitions if it makes you happy.


145 posted on 12/30/2006 8:45:35 AM PST by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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To: VegasCowboy
yep, renting is an expense and liability. what;s so "strange" about that?

and in accounting the house is a so-called asset, but it's money out of your pocket and thus it "strangely" actually a liabiliy cuz mortgage and taxes are attached to that property

149 posted on 12/30/2006 10:08:38 AM PST by 100-Fold_Return (MONEY Cometh To Me NOW)
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