Tag: buying a property is a liability
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So, is property an asset or liability? How about ‘compulsory?’
Still wondering whether a property is an asset or a liability? It can only be counted as your asset if you have fully paid for it and if you are still paying for it, then it’s an asset to the bank and a liability to you. Someone famous said that a house is an asset…
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Is a house really an asset? Or is it a liability?
Someone asked me this question many years ago. “Why is property an asset when most of everyone owes most of the value of the house to the bank?” I replied, ‘most of the price you bought, not the value.” As for whether it is an asset or a liability, maybe we look at it from…