
I was asked, awhile ago, whether a house is an asset or a liability. This might seem like an odd question. Of course your home is an asset, right? Well, that all depends on who you ask and what your definition of an asset or liability is.
We often hear phrases like, “A house is typically your most expensive asset in life.” Of course, these people mean that out of everything you buy in your life, your house is more than likely the most expensive....