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I think I understand @eiddyfouw, I think it just became too confusing
If thats true then a house isnt an asset because you dont own it..
The house is an asset because you've financed a purchase via the equity you put in and the mortgage you took out; think of it like as your personal balance sheet (assets: house; liabilities: mortgage; equity: equity); as your pay down your mortgage your equity ultimately equal your assets.
Leasing a car is not an asset because you do not own it and it does not show up on your personal balance sheet, rather its flows through your personal income statement via an operating lease payments. The reason people and companies decide to lease vs. buy is because they do not want to take the depreciation expense or deal with the residual value of the asset.
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