> It is safe to assume, you are probably buying your first house for yourself — not for renting it out. In this scenario — your first house will take money out

> It is safe to assume, you are probably buying your first house for yourself — not for renting it out. In this scenario — your first house will take money out of your pocket, you can’t convert it into cash for at least first few years otherwise where will you live? Hence I believe it is a LIABILITY. Yeah... Of course. But let's look at the alternative - most young adults don't have a roof over their head sorted out. Statistically few people have the opportunity to live with their parents - lack of space, job opportunities, social circles and so on. So it's either buying or renting. And here is where you need to look at both options: 1. Renting - you have a fixed rent + bills to pay. If something breaks down on it's own, your landlord has to fix it(ideally but far not always the case). Depending on your landlord there may or may not be furniture, so you may need to invest in furniture, appliances, etc. 2. Buying - same as rent, but you have to take care of maintenance on your own in all cases. However, the big difference is that in this scenario, your mortgage payment does add something to your name, that is, your money isn't fully gone at the end of the month, as opposed to renting. Renting will guarantee a roof over your head until the end of the month and that's it. Mortgage does mean you have an asset(even if it is partially). You still have the ability to sell it, should you need to. I'm not talking about the people born with silver spoons in their mouths - for the vast majority of people(myself included), those are the two options we have in front of us. They are both liabilities, they both are a weight on your shoulder and while mortgages come with more strings attached, I still believe it's the lesser evil of the two.