Kirk,
Your opinion is right on the money! Virtually every "asset" has associated costs/expenses which eat away at their respective appreciation. Anyone who thinks otherwise has their eyes wide shut.
Take your house for example. No hangar fee, but it sure has a hell of a lot of other overlooked expenses. Electricity, gas, water, cable, phone, and an "annual" in the form of general maintenence. What about friggin TAXES. If my taxes don't increase a PENNY over the next twenty years (which of course they will!)I'll pay out well in excess of $100,000 in property taxes.
If you really want to see how little your house has actually appreciated, add up fifteen years of utilities, general upkeep expenses and TAXES and subtract this number from your "equity". Of course NO ONE ever does this. It's much more gratifying to tell your friends that your house has appreciated $150,000 over the last fifteen years. Yeah right!
Apple for apple, planes hold there value better than most possessions. Case in point- Do you know of anyone who would like to give me $23,000 for my (hypothetical) 1971 dodge pickup? Now, how about my 3600 TT, 150 SMOH, NDH, "9" in/out 1971 150K which retailed for around $12,500, thirty four years ago?
Point well made Kirk!
p.s., sorry for the rant, but apple and orange analogies drive me nuts!
