I have to share this because it will definitely make you think. One of my friends and I were having a discussion this morning about the home which I found very interesting. We were talking about the home and I have to agree with her – a mortgage is not an appreciating asset. Why? You are paying on it monthly. When something appreciates it makes money for you. You do not have to pay out for an appreciation? Does this make sense? If you pay off the house is it an appreciating asset or depreciating asset? Does it change? I could see where it does not change to an appreciating asset because you have to continue to pay taxes on it. What are your thoughts?
