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    #16
    I agree with SF3. Your house is not an asset. It is
    your roof to shelter you and your family from bad
    weather. I know a couple of people who have
    leveraged their roofs and are feeling some
    discomfort at this time. Any increases in interest
    or layoffs would really turn those families lives
    upside down. All because they borrowed against
    the roof over their heads.

    Comment

      #17
      When I look at my list of potential renovations (read kitchen), you got that right. It would fit in the liability column. Having said, has been one of my better places to store money and met the necessity of having a roof over my head.

      Just curious on the comment on farm land. An asset that returns an annual income or an investment that provides capital gains? To the topic that lead into this discussion, is land immune from the overall concerns expressed here. I guess depends a lot on where you live and how much of your land value is based on what it will produce versus other factors such as proximity to a city/other factors.

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        #18
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          #19
          Actually I made more money on houses than I
          ever made as a wage earner. Houses are assets.
          When I bought rental properyy for $16,000 to
          $42,000 to sell at an aberage of $92,000. My
          own house bought for $165,000 now easily worth
          $390,000 to $400,000, easy money and a great
          home.

          Comment

            #20
            15 years ago several people in Humboldt bought up many properties in town worth 10 grand each. They are not much but people rent them type of properties. Today the same properties are bringing in some nice profits. I would imagine that property type if put on that graph would look much different than most homes that people use for their residence.

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              #21
              Sumdumguy: I dont agree that houses are assets. For a typical couple buying a house on a 25 year mortgage, the interest costs over the 25 yrs will be about the same as the original principal value. So your house has to double in value before you make any money on your investment. Plus you have to account for property taxes and maintenance costs.

              Buying cheap rentals suites probably was a wise purchase, but have you ever had to deal with renters? Nightmare!

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                #22
                A house is certainly an asset, given that
                ya kin live on the street, er in yer car
                if ya have ta sell er lose it. More money
                made, buying and selling homes than fn
                workin fer a livin.
                Remember though, ifn theres not enough
                money ta make both the house and car
                payments. Always make the car payment
                first, cousin ya can't drive a house,
                whereas ya kin live in and drive yer car!

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                  #23
                  Depreciating machinery an asset? At least
                  houses have appreciated. On a farm, I get it
                  because it is likely sunk costo that may bring you
                  no monetary return, but a happy wife means a
                  happy life so do the kitchen. Divorces aren't
                  cheap.

                  Comment

                    #24
                    "a house isn't an asset"

                    The bank may tell you otherwise.

                    Down south many learned the hard way that owing
                    more than its worth makes it a very real asset,thats
                    better to walk away from.

                    The one in a thousand who seen that bubble and took
                    action now can afford a bigger better home.

                    Land as an investment-great idea,5 years ago.

                    Investing is about what will happen,not what has
                    already happened.

                    Comment

                      #25
                      A rental property is an asset as it
                      generated regular income from the
                      investment. Your primary home or
                      recreational property is not an asset,
                      it's a money pit requiring regular maintenance, renovations, property tax
                      and if there is a woman in it you will
                      have to fill it with expensive frilly
                      crap. At the end of the day it's value
                      is volatile and highly unpredictable,
                      money only flows one way into that
                      sucker and that is a liability by
                      definition.

                      Comment

                        #26
                        So the question therefore is Does the woman APPRECIATE or DEPRECIATE in value as time goes on? lol Or do you just go get a newer house and newer woman? lol

                        Comment

                          #27
                          Does any woman appreciate....man?

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