Is the home in which you reside most properly classified as a commodity or an asset ?

Answer 1

Asset, since it can be liquidated. Once it is put up for sale, it becomes a commodity or article of commerce. Once acquired and utilized, it is once again an asset.

Answer 2

An asset. A commodity is a consumable.

Answer 3

In my opinion, neither. Conventional finance and accounting would classify it as an asset, but it depends on whose balance sheet you are looking at (see Rich Dad, Poor Dad - Robert Kiyosaki).

An asset puts money in your pocket. You are not guaranteed future returns from selling. Most residences cost you money, so they are more aptly classified as liabilities. A (positive) cash-flowing property (like a rental) is an asset.

Answer 4

Asset. Commodity is something more or less fungible with other quantities of the same. No house is the same as any other house as all real estate is unique. By definition, commodities are interchangeable.

Answer 5

An asset

Answer 6

Asset.

Answer 7

I would say an asset and not a commodity.

Answer 8

Your home is a liability, in the sense it does not bring in a positive flow of cash.

An asset would be something like a condo you rent to someone else, which brings in more than the cost of the monthly mortgage (or the cost of owning it)

Answer 9

depends on how you are using it, its a commodity if you are only paying it off, its an asset if you are using its equity to lever more assets

Answer 10

asset. I sat my *** down every day I am here