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They're assets in the sense of property, but unless you have a home business, they're not investment assets or productive assets (the kind most people think of when they think of assets). Generally speaking, leveraging to buy a bigger house or car just means bigger payments, and therefore less wealth, not more; yet people will justify it by calling them assets, which is technically correct but deceptive. Therefore the rant. :)

The rant was justified; I'm not bickering. Just splitting hairs. :)

I know plenty of people who bought the largest home they could afford - planning on making out on the appreciation of the property. Meanwhile, they have to budget even minor expenditures. It's served them well so far, but who knows how long that will hold up....

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