Owen Raskovich

This can extend from where you work, where your partner works, where you spend your money.

Where you pay your bills.

So where you invest your money.

Do you invest in a super fund that is involved in property, but you also work in the construction sector?

You know, so there's these instances where people kind of line up all of their eggs in that basket, but without really knowing what they're doing.

So another thing that people in this group have done or failed to do when they fail to diversify is they think of their home, that is their primary residence, their house, their place that they live as an asset, right?

And so they funnel all of their money into a home.

Now, it's great to have offsets and get ahead on redraw facilities and do all those types of things.

Those are fantastic things.

And I hope every one of you have done that.

If you have a mortgage, you've invested money into your mortgage ahead of time.

So you are ahead on your payments.

But my belief is that a house is not an asset as you think it is.

So yes, we've become accustomed to having home prices go up dramatically over the past 20 to 30 years because we've been recession-less.

But in my opinion, a house with a mortgage is a liability masquerading as an asset.

And that's because during times of uncertainty, you don't make money from your house.

you don't make an income from your home.

In fact, it's the opposite.

You end up paying more during these times because you might feel vulnerable and you still have to meet the repayments.

So that's why I've always taken offense to the Australian dream.