well that's just crazy mike
how's a guy gonna retire with big bucks if his house he couldn't afford doesn't inflate in value?
have you never been to California?
Oh yeah. I have cousins there. I also used to live in Florida, but was fortunate enough to sell my house in '06 at peak.
I never could figure the logic of using a durable good that depreciates unless repaired as a retirement plan. Maybe if that property was rented and had some cash flow, yes, but a primary residence? Too much reliance on the greater fool theory.
no argument from me
I never count my house as an asset in total net worth even though it's paid for,
it still costs money to maintain it and keep it from freezing up
therefore imo it's a liability, not an asset
rental property that cash flows is an asset
fortunate that we have a MIL apartment above the garage so our house does indeed produce some income
but not enough to offset completely the expense of living here, fuel, elec., snow plowing, maintenance and property tax
so it's still a liability, just not as expensive as it would be without any rental income from it.
