Yes, my home is an asset.

Your definition: "By definition, an asset is “a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit”.

I own my home (no mortgage), so it is a resource with economic value, and I control it. It provides a future benefit, and it provides benefits daily. The definition does not demand that the benefit be cash flow. Yes, my house is cash flow negative, but the benefits are much in excess of the negative cash flow (taxes, maintenance and insurance). This is the case even disregarding appreciation or depreciation.

Might there be assets that produce a greater benefit for lower costs, maybe. That a home is not the best asset does not mean a home is not an asset. Many assets provide intangible benefits, like works of art for instance. Oh, many works of art don't produce any cash flow but are certainly an asset.

Is an ounce of gold an asset? Certainly. Does an ounce of gold produce cash flow? No. The gold is an asset, the main benefit of which is as a store of value. The expected benefit is no matter what or when you will be able to trade the gold for something you value.

Some of your points are valid. Buying a home is not a good choice for everyone but your title premise is totally wrong. A more meaningful title should be buying a home is not for everyone but that is obvious and not likely to draw many views. Click baiting sucks and deserves the negative comments it draws.

TEK