[sauronlord]

This is what they mean by 'your house is not an asset'

Mortgages are not inherently bad. It's what you take the mortgage for is the bad decision.

Example:

Good:

Having a mortgage for a legal duplex (2 dwellings) and renting the other half out, while you live in one.

Bad:

Getting a house that's one big sink hole of cash and having more bedrooms/lawn/what have you.

You can be employed to build someone else's dreams. However there are other options available to you that don't involve being a rat.

[kragen]

My reading of “your house is not an asset” is “Robert Kiyosaki apparently failed Introduction to Accounting because he still doesn’t know the definitions of basic accounting terms.” (Except in very rare cases, like when the verdict against you for the neighbor kid drowning in your pool is more than your house will sell for.)

[fixxer]

I could have just as easily used "rent" instead of "mortgage". Spare me the political grandstanding.