Quote:
Originally Posted by Teh_Bandwagoner
I'm paying interest, so it is debt.
Edit: Also the poll is lopsided because it's being asked on CP. If the income poll suggested anything, is that most of us are probably fiscally responsible professionals. It just seems like the general tone of the forum is that many of us tend to live within our means as well. So in turn, mortgage is a debt because it's something we all want to pay off, whereas there are probably those out there who consider their mortgage (or any other credit) as free money.
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and they would be wrong. My suggestion is this: You are immediately excluded from being able to purchase a home or procreate if you believe in any way that a mortgage is not a debt. It still blows me out of the water that a guy who sells homes for a living posted this.
A mortgage is debt. It's debt used to acquire an asset, yes. And you can look at a "net asset' (value of the home less the mortgage value) to get the 'net asset value' of your home, however there is no getting away from the fact that your mortgage is debt.