On Tue, Mar 30, 2021 at 9:01 PM Martin Michlmayr <[email protected]> wrote: > > * o1bigtenor <[email protected]> [2021-03-30 15:02]: > > > “Asset is a resource available to a business that gives it some form of > > > economic benefit in the future.” > ... > > There is no way to make money with it, generally, without selling it. > > > > Not a popular opinion but it does follow that above definition. > > I think you're equating "economic benefit" with "income". > > You *do* get an economic benefit from a house -- you get a place to > stay which would normally cost $$$ to rent. > Hmmmmmmmmm - - - - it sounds like your mortgage is paid off. If it isn't you are paying the bank for the privilege of living there. If you look at the value of where you live over the last say 40 years, you might see that your house value has been hugely manipulated and its value really isn't what might have been in your price tag but it does make you feel better when you look at those mortgage payments. (I can remember when mortgages were being offered at 19% and there weren't a lot of takers. Many houses were defaulted to the lendors at the time. That is also behind my definition - - - which I do know is not popular but is more accurate than the quite rosy view held by many. )
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