Quote:
Originally Posted by markuk
Disagree.
A home is an asset it can be converted to cash. A mortgage on the house is a liability. If you're living in a home and it's worth more than your mortgage all is well.
Someone might have a mortgage on a house which is costing them more than they get back from renting it out...
Anyways, yes it's good to save but it's more fun to spend.
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yea but even a mortgage free house requires council tax to be paid and if you have repairs need doing you gotta fork out the dough.
similarly A failing business is not an asset.
07-09-2011, 10:30 PM
