'You'll Never Own Your House. The Government Does' – Robert Kiyosaki Argues Your Home Is Never An Asset Because Property Taxes Are 'Forever'

For generations, owning a home has been celebrated as a cornerstone of the American dream. If you believe the financial advice echoed by countless experts, it's where you put down roots, raise your family and invest in your biggest asset.

But Robert Kiyosaki, author of Rich Dad Poor Dad, has a blunt message: Your house is not your asset. In fact, you don't even truly own it.

As Kiyosaki said in a 2021 Facebook post:

"Your house is not your asset. You never own your house; the government does. You'll be paying them property tax forever."

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It's a provocative claim, but Kiyosaki's reasoning is this: If something consistently costs you rather than putting money in your pocket, it's not an asset.

He points to the ongoing expenses of homeownership – mortgage payments, repairs, maintenance, utilities and, most notably, property taxes. Even when you've paid off your mortgage and hold the title to your home, you're not off the hook. Property taxes don't go away.

Property taxes are levied by local governments and are calculated based on the assessed value of your home. These taxes fund schools, infrastructure and emergency services but are a perpetual expense. If you fail to pay them, the consequences can be severe. The government can place a lien on your property and in extreme cases, your house could even be seized and sold to recover the debt.

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This is where Kiyosaki's argument hits hardest. Even though you may technically own your home, the reality is that the government retains a financial claim on it forever. For many, that's a sobering realization.

To be fair, there are exceptions. Some states offer tax breaks or exemptions for seniors, veterans or disabled homeowners. Others have homestead protections to limit how much property taxes can rise each year. But for most homeowners, these taxes remain a significant, lifelong expense.

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Kiyosaki doesn't dismiss real estate altogether – far from it. He makes a sharp distinction between primary residences and investment properties. Unlike your home, investment properties can generate income through rent while appreciating, making them true assets in his eyes.

This perspective challenges the traditional narrative that homeownership is the ultimate financial milestone. Many people buy homes believing they're securing their future, but Kiyosaki argues that unless your home actively puts money in your pocket, it's not an investment – it's a liability.

So, what does this mean for the way people see homeownership? Does it change how you view your biggest purchase or reinforce the value of owning a home despite the costs?

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