Quote:
Originally Posted by maat55
Until you can say it has given you more money than you have given it, it's a liability. Even if you sell it, you have to deduct all the money you have in it to get the profit. Homes with large appreciation in a short period of time are few.
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Interesting view. Valid I suppose.
But if you deem the monies spent in this fashion as a liability, shouldn't you also deduct the monies spent given to your landlord/landlady as well?
You gotta pay someone. Whether you pay yourself for ultimate ownership or you pay someone else for use <renting>... the money still will be spent somewhere. Someone gains.
But renting, IMO, is a true liability.