tag:blogger.com,1999:blog-26277603.post5392086755821125313..comments2008-07-10T07:56:48.299-05:00Dual Income No Kidshttp://www.blogger.com/profile/04648586816512955888noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-26277603.post-62241933009680607272008-07-10T07:56:00.000-05:002008-07-10T07:56:00.000-05:002008-07-10T07:56:00.000-05:00Sam, <BR/><BR/>Thanks for commenting. While I don't know the source of the assertion that owing a home is a liability, my sense is that you're taking it from Kiyosaki's line of reasoning. <BR/><BR/>Please understand that homeownership is very highly correlated with networth in the Unites Stated. Every source of data I've looked at, census, survey of consumer finances, etc. etc. - has shown that richer people own their owns homes. <BR/><BR/>I think this is because home ownership causes you to build wealth, at least relative to renting. <BR/><BR/>Kiyosaki is great, but his assertions are opinions, and not evidence based. <BR/><BR/>best, <BR/><BR/>JamesDual Income No Kidshttp://www.blogger.com/profile/04648586816512955888noreply@blogger.comtag:blogger.com,1999:blog-26277603.post-48348571385105482632008-07-10T00:09:00.000-05:002008-07-10T00:09:00.000-05:002008-07-10T00:09:00.000-05:00I quite agree with your points except the first part. For me, owning a home is rather a liability than an asset. Why? Because it takes money from you to maintain it and requires you to pay property tax. The only moment it becomes an asset is when you sell it. However, I do agree that owning a home is better than renting if you want to be financially independent.Samhttp://fixmypersonalfinance.com/noreply@blogger.com