Norstman - 9/9/2015 22:00
KnowAFarmer - 9/9/2015 20:46
pat-michigan - 9/9/2015 11:54
Lots of "it all depends" on that one. If I could make the numbers work by borrowing some $ from a liability (the house) to buy an asset (mutual funds) I think I'd for sure take a second look at doing so.
Not sure I've ever heard anyone call a paid for house a liability.
If its your own residence
(not renting it out
) what return is it bringing you? None other than a roof over your head. Besides that it requires constant repairs. I would say it is a liability. If you really wanted to be cheap you could live a 10,000 dollar shack, it would provide the same as any other house.