In this case the asset is your house, and the liability is your mortgage.

Something does not have to produce income to be an asset. Your house may not be a very “useful” asset, but it IS an asset. That’s my point. But again, if you want to view it as a lousy asset that’s fine.

Economic policy wonk by day. Personal finance writer by night. I write about investing, debt, and all things related to money. Editor of Making of a Millionaire

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