Is Your Home An Asset or Debt Trap?

[loanstar]

Originally Posted by jeffrey

Our parents wouldn't think of buying furniture with money borrowed against their home. So why is this form of borrowing becoming so popular? Three events have converged to create this dangerous trend.

perhaps our parents are wiser. also they were not exposed to today's preditory advertising tactics, we just have to be strong and ignore the bait!

[Caoineag]

Honestly, the reason I want a house is so that I can have the type of environment I want. So definitely not an asset, but I wouldn't categorize it as a debt trap since even with massive repairs, the house would just equal rent and you have to live somewhere.