Yeah, I see what you’re saying

and I’m actually still learning the whole house thing. I have not owned my house yet, but I will soon. …I do agree with him to an extent, on why a house is a liability, BUT since you just mentioned your views, I just thought about another book that I read. It’s called “Ordinary People, Extraodinary Wealth” written by Ric Edelman.

…He talks about how is a smart to have a mortgage, as opposed to not having one. He states things such as when you pay your mortgage, the interested is a tax right-off. So, you are actually saving money by doing that.
So, when you, in fact, “keep” that money, you can, and should, invest into something that will grow faster over the years to come.
…So, if you look at
it that way, a house is something that will make you money.

I know that description might be a little brief, but if you read the book, it make sooooo much sense. ….So, if you take the money you save from the interest right-off, and then put it into an invstement that grows faster, …….you are making money from your house, ….which would make it an asset!

…Like I said, I’m not the expert on that subject, but if you haven’t yet, read that book. It’s awesome! There would be times to where it would make me laugh, because his concepts are so simple, but most poeple don’t see it.

Anyway, good talking to ya, and I will to you again soon!

Dear Paine:

In response to your post about Kiyosaki, although I am no longer a fan of his since the MLM book, I think he is referring to a comparison between rental property and a single dwelling. For example, there is a great difference between a single family unit and a duplex or triplex, of which we have a great many more of them in Canada than in the U.S. Here in Canada, we are able to deduct the interest on the mortgage for a RENTAL property, even if we live in part of it, but not a single family home. So therein lies the difference for us. All repairs in a duplex are income tax deductible, whereas in the single unit we deduct nothing.
Kiyosaki suggests that we need to make money from another source, ie, duplex or income property, and use the income from that to purchase a single dwelling. I totally agree with that. He has some great ideas, and is a good speaker. Too bad he had to get greedy and write an MLM love festival book. I also cant help noticing that Yager has not made this book a choice as “book of the month”.