I do consider it a kind of debt, but its an asset backed debt that I could at anytime now after 5 years of having a mortgage get out of it and then magically not be in debt.
Car loans, line or credit, credit card etc - to me that is real debt - debt that I have no way of getting out from under without wither paying it back with income streams, selling more assets than what purchased with the debt or declaring bankruptcy.
Yes, if you purchased a house in July 2008 then you probably consider it a debt
