Housing specifically (the building) is a liability -- it deprecates, it needs maintaining, just like a car. You pay that and you get utility out of it.
The land its on tends not to be a liability, it increases in value through no work on the owners side. Rarely it will decrease in immediate value, but that's very rare.
The land its on tends not to be a liability, it increases in value through no work on the owners side. Rarely it will decrease in immediate value, but that's very rare.