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Your house: an asset or a liability?

There’s an interesting discussion going on in the PMT Forum, about one’s residence and whether it is an asset or a liability.

By definition, an asset is anything that can directly or indirectly contribute future cash flows. A liability, on the other hand, is anything that can result to a transfer or disposal of an asset.

In this context, is the house an asset or a liability? Here are a few thoughts from some PMT members.

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