Quote:
Originally Posted by XenChi
*cough-B.S.-cough* 
Plain and simple a home is a liability until it is finally sold. Purchase assets, and limit your financial exposure to liabilities and you will achieve wealth. Take your time plan and your moves wisely. When you have saved enough money for a substantial down-payment on a home get a consultation with Goldman Sachs and then decide what's truly best for you. You may be surprised. |
A home is a liability? And what school of economics did you graduate from? The loan on your home is a liability, balance sheet wise. The property itself is an asset. If you buy right, and in this economy there is no better time to get a deal on a home, you will over time almost always have an appreciating asset. Yes home values have dropped in this recession, but if you have owned for years, the long term appreciation is still there.
John