Buying a house assest or liability

[Antonio Pican]

Hello,

I keep coming across a lot of discussion buying a house and that it is a liability, not an asset. Well if that is the case then when can I buy a house or should I always rent one? Or do "they" mean to buy a house and with my passive income pay for it so its as someone else is paying for it?

Thank You.

[Spencer Cornelia]

@Antonio Pican When my coworkers buy a house, it is a liability.  Why?  Because they have expenses every month and $0 in income.

With my house hack here in Vegas, I gross $3,600 a month in rents and have $2,000 in expenses leaving me with $1,600 profit every month.  My house is an asset.

It can be one or the other depending on how you buy.