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Is a Home an Asset, a Liability Or a True Investment Asset?

Do you really know what a true investment asset is? Is a home an asset? I certainly used to think my home was an asset. For a while there, my home was appreciating in value and my home equity was therefore increasing without cash coming out of my pocket. Also, my banker said it was an asset when he gave me my mortgage loan so what else could it be? A home also met the balance sheet definition taught to me in accounting classes in school.

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