Net Worth: How do you stack up?

[Snave]

Originally Posted by gamecock43

Maybe in the beginning houses are liabilities and then they become an asset the longer you own.
In the beginning you are stretching yourself to make payments, and make repairs, but as the years go on you come to anticipate repairs that will be needed, and save for those. Later on you can refinance, and your house would have increased in value as well.

I do agree with this some. Obvioulsy if you just bought a house and don't have much equity, it probably looks more like a liability. However, if you build up equity over time (such as the case of disneysteve's mom) or put a lot down on the house originally it probably falls more towards asset.