Quote from: abhiseshakana on Today at 06:39:31 AM

Quote from: PancongStreet on October 09, 2020, 05:09:59 PM

absolutely true bitcoin is not safe heaven, if you are looking for safe heaven property is the answer
the human population will not comply but will continue to grow so that property will be very much needed
I remember my house around 2010 had a price of $ 60,000 and now the price is $ 476,818, this is a real safe heaven asset

Property is an asset because its price tends to increase and it brings us money. In addition, property sales generate money for property agents and property loan salespeople who earn income by selling property and banking products.

But property can be an expense if over time there will be burdens including renovation costs, maintenance costs, water fees, electricity fees, land and building taxes and property loan installments. So instead of gaining more money, the house is actually draining more money.

Asset functions to increase wealth and store money in the wallet, while Expense functions to reduce wealth and remove money from the wallet. So that the house can be an asset not a burden, the house must generate value to cover the burden. The way to do this is by being contracted, used as a boarding house, used as lodging in collaboration with hotel aggregators. By turning a house into passive income, it will provide us with wealth and income without the need to use up our time and energy.

Anything which gives us profit is an asset, terming it as a property is not correct because banks considers cars in the property as well, but is it an asset? No, because it rather drains all your money,

I accept that even immovable assets such as building, lands etc can turn out to be a liability. Just take the current scenario where I have seen drastic fall of price of the immovable assets in our area and nearby due to the pandemic. Rent apartments are empty where the owner has to shed money to maintain the property.