From: "Don Zimmerman" 
Newsgroups: misc.invest.real-estate misc.invest.futures misc.invest.stocks misc.invest.technical misc.invest.misc
Subject: Re: Is your Home an asset or a liability?
Date: Sat, 31 Jan 2004 21:21:17 GMT


"BarefootTrader"  wrote in message
news:101n6aotllm3319@corp.supernews.com...
> Who said assets have to generate cash?? I have owned lots of raw
> land and later made good money on it. Assets are items which
> add-to the positive side of your balance sheet, liabilities are
> the negative side. The home itself is an asset, the mortgage on it
> is the liability side.

When I cleaned out a family garage some years ago, things that seemed to be
just pure junk, like old clocks, signs advertising tobacco products, cherry
seeders, and old cash register, etc. were bringing several hundred dollars
apiece in an auction. I would call them assets. The only thing they
generated over the years in that garage was mouse droppings.