Home: A roof over the head or a investment?

I was reading a FB article by a outgoing PAP minister on the some thoughts he has on the Singapore Success story and one point he pointed out is on the strong twisted but observation on the property market especially in Land scared Singapore.

His comment was its wrong to use the increase in property prices as one basis of ones richness since most Singaporeans only own one property and its where they are living. He goes to explain that unless the owner sell the house, the property price increase has no value to him. In fact it also means he has to fork out more money to get another apartment to live in so creating a vicious cycle.

I cannot help but agree that long were we taught wrongly that a house is a asset. Its a asset all right but to whose asset it belong to? To define a asset as what Robert K used to say ' An asset is one that feeds you' so a home i am staying is not an asset since its not paying for my bills. It's as asset to the bank since the owner pay the bank the mortgage loan.

So when will become an asset? When the owner starts to rent the apartment out to get income. At least that in my opinion is consider an asset. I always believe its important to have a roof over the head before getting any other investment vehicle. Gone were the days I can stay at home with my family since the home i staying at don't belong to me but with other relatives. I don't regret the decision to sell the old house as its a decision taken at that point in time where money is zero and my father is not helping the family. In order to kick start his contribution at least to keep himself alive, that's the decision to make. It will forever be a debatable situation which i no doubt has no qualms in taking the same decision again if given the chance. Only those who know me well enough can judge me to be a heartless cold ungrateful son..... and these people are little to come by since they know the situation of that troubling time.