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‘Underwater’ American homeowners still drowning in mortgage debt

admin2020-05-27T13:16:27+00:00Some homeowners are still reeling from the Great Recession and it may take 10 years to recover. The percentage of homes underwater — where the home is worth less than the mortgage — has been dropping as the housing market has recovered, but more than 4 million U.S. homeowners owe the bank at least 20% more than their homes are worth, totaling $579 billion of so-called negative equity, according to real estate company Zillow. “Homeowners who remain underwater will likely be...

The house you live in probably a liability not an asset

admin2020-05-27T13:15:01+00:00Robert Kiyosaki (author of Rich Dad, Poor Dad) is possibly the most famous person to say it, but is bears repeating: Buying a house is not an investment unless you do it very, very consciously with the express purpose of buying a home worth investing in. A house that you live in is a liability in every sense of the word. Sure, it might be the most valuable thing that you own, but when it costs you money month after month, is...

Rich Dad Scam #6: Your House is an Asset

admin2020-05-27T13:13:48+00:00It seems like every financial “expert” says, “Your house is your biggest asset.” When I wrote Rich Dad Poor Dad, I said that your house was a liability. That was like spraying water on a hornets’ nest. The so-called experts lambasted me. At the time, the real estate market was skyrocketing. Everyone called me a contrarian, out to sell books. Today, after one of the worst housing crashes in US history, they aren’t laughing anymore. Recently, I’ve been writing a series of...