Comparing apples 'n' oranges here: is a house still an appreciative asset if one adds in living expenses? IE - electric, water, sewer, heat, property taxes, insurance, repairs, maintenance, lawn care, etc.? Or are all these expenses assumed as the normal cost of ownership, and only the value of the house itself is considered?
I don't think the definition of an appreciative asset should be simply that the total cost of ownership is zero or better. If that were the case, then only stocks, bonds and precious metals are (arguably) appreciative assets and everything else is more or less a loser.
Owning any plane is expensive. The ultimate question is this: does the asset itself (the plane) hold it's value? Can you sell the plane and get another without losing money on the transaction? All things being equal, your ownership costs (fuel, insurance, tie-down, etc.) remain the same, only the tail # changes. I doubt any plane has ever sold for so much more that it completely covered every cost - no plane is 'free'. Just like I doubt a house can sell for so much more one could effectively live for free (although with the rate home prices are rising today...), especially if the dollars are adjusted for inflation.
