OK. Let me get this straight for you first. A primary residence is a consumption rather than an investment. You move up because your income justifies higher consumption level rather than for “investment” purpose.
If you’re not an f’en idiot, a primary residence can be both. I wouldn’t own a primary that I can’t rent out next week and walk away from for a year, while maintaining a small income from the rental.[/quote]
A primary residence can be both, but they’re not both if you’re living in it. So, it is not both. Unless you happen to also have roommates and have them pay your bill. As long as you’re living in it and paying mortgage on it with no income coming from it, it’s not an investment. If you consider it as an investment, then it’s a horrible investment that you’re spending thousands each month with no cash return.
