Your House as an Asset vs. your House as a Liability

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Frederick Dodson

When I purchase a house, the title deed should say I’m the owner. Instead it calls me the “tenant”. I asked why this is and was told by a realtor that “this is just the wording that Government uses, you’re still the owner”.
But wording matters. It means that our Government doesn’t believe in personal property, they believe I am their tenant. This is why they impose taxation that is higher than if I were an actual tenant paying rent somewhere. If it were my property I wouldn’t have to keep paying for it.
This is how houses you live in are not really an asset, they are a liability. The only house that’s an asset is the house I rent out to others, making them my tenant.
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