[100-Fold_Return]

"That is how every accountant would record the purchase of a house."

Exactly!! A home is an asset ONLY on the books--on paper--not in reality [no pun intended].

ONLY ON PAPER. kudos

[Always Right]

Exactly!! A home is an asset ONLY on the books--on paper--not in reality

There is no such thing as a real asset in your mind then. Whatever, it is pointless.

[Jonx6]

"Exactly!! A home is an asset ONLY on the books--on paper--not in reality [no pun intended]. ONLY ON PAPER. kudos"

Isn't that like saying a mortgage is a liability only on the books--on paper--not in reality?

[Poser]

"A home is an asset ONLY on the books--on paper--not in reality"

A home is an asset. A loan is a liability. The difference between the value of the asset and the liability is called owner's equity.

I own a home. I have no mortgage. My equity is very high.