What an odd way of looking at it. Almost anything can be an asset. My computer that I am using to post is an asset, but it is a depreciating asset. The trick is to acquire appreciating assets.
So by your logic a home that is depreciating (renters can do that to homes) but rented is an asset, while a home that I am living in that is appreciating is not an asset. I think you need to learn some basic accounting principles.
Until you actual sell that "asset," the only ones making money off that appreciation is your tax assessor. The truth is rather odd, now isn't it.