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Originally Posted by adamnsu
I dont understand what you are trying to say TBH. As far as I know an asset is something one owns and has a monetary value. If this isnt a traditional sense, could you please give me one so I can understand what you are really trying to get at?
It would be illogical if you sell a house without not making sure you dont have another house to live in?
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I'm speaking from the pov that a person doesn't have a house yet but is looking to either rent or buy one. People on this thread are talking from the perspective that buying is better cos at least you have an "asset".
But that is a wrong way to look at it because you are essentially living in the so called "asset" and people think "oh yeah If things go bad at least my house is an asset and I can sell and make money". And in also other circumstances when the price at which the person bought the house was low and they're living in the house and they know that the value of their house is now a lot, people also think "yeah imma make heaps of profit from selling my house", neglecting the fact that if they sell their house i.e. asset they wont have a place to live and they may think that "i can just buy another cheaper house" but then all the houses prices around their area would have also increased as well.
Therefore thinking a house as an "asset" which you live in, is not exactly the same as other types of assets such as shares where your day to day life and livelihood is not affected by you buying and selling shares.