We are told that the American dream is to be a home owner. Also that your house is an asset. This is not true if you live in your house it is not an asset, it's a liability. Living in your house cost you money by paying the mortgage and paying to fix maintenances etc. This falls into the liability section. Not an asset. If you own a home and rent it out, then your home now becomes an asset because it now produces money for you.
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