Quote:
Originally Posted by disneysteve
But Jim, that is only true because each payment decreases the outstanding debt a bit. If you didn't have that huge mortgage in the first place, that wouldn't apply.
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DS- if the house is fully paid for it is an asset, which can still accumulate wealth.
It is not a steady accumulator of wealth, it is not a reliable accumulator of wealth, but bottom line is that the house (and more importantly the land it is built on) has value and that value can represent either past accumulation of wealth or future wealth if it is ever sold.