Quite a lot weaker.
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Previously on "US raises interest rates - dollar strengthens"
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Originally posted by sasguru View PostAh my bad. You're a golden fool.
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Originally posted by clearedforlanding View PostThe "value in use" is the only economic value you can count on and that is measured by what a substitute home might cost in rent, for example. Otherwise, home ownership is an economic liability.
I am none of the above sas, thanks to good looks, a successful practical career, and being born with a silver spoon in my mouth.
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Originally posted by sasguru View PostYou're obviously a singleton, a theoretician and destined to be poor.
You know the price of everything and the value of nothing.
A fool, in other words.
I am none of the above sas, thanks to good looks, a successful practical career, and being born with a silver spoon in my mouth.
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Originally posted by clearedforlanding View PostAs per definition, An asset is something which generates a positive cashflow. I never consider a person's home an asset, or more appropriately, an investment. Sure, it is a significant amount of money and it can appreciate, however, you have no cash flow from it and in fact it is all expense (maintenance, tax etc.). Any appreciation is just on paper unless you sell it.
Even Rich Dad got this one right:
If you have a house, paid for or not, that you live in, then it can't be an asset. Instead of putting money in your pocket, it takes money out of your pocket. That is the simple definition of a liability. This is doubly true if you don't own your home yet.
You know the price of everything and the value of nothing.
A fool, in other words.
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Originally posted by sasguru View PostHaving a roof over your head that no one can take away and that you don't have a monthly cost for isn't an asset? It already puts you in the top 10% of the world.
Even Rich Dad got this one right:
If you have a house, paid for or not, that you live in, then it can't be an asset. Instead of putting money in your pocket, it takes money out of your pocket. That is the simple definition of a liability. This is doubly true if you don't own your home yet.
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Originally posted by sasguru View PostHaving a roof over your head that no one can take away and that you don't have a monthly cost for isn't an asset? It already puts you in the top 10% of the world.
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Originally posted by clearedforlanding View PostBecause you need somewhere to live.
It is only an asset when you exit the market.
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Originally posted by sasguru View PostBollux. Provided it's all paid for and not your main inveistment for retirement, it most definitely is an asset.
why wouldn't it be?
It is only an asset when you exit the market.
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Originally posted by clearedforlanding View PostI remember when I first started contracting and was told the only wise words I have ever really heard from a financial advisor: Do not count your main residence as an asset.
It is a shame how many people are oblivious to this.
why wouldn't it be?
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