Yes and no. Yes: From the definition of asset provided by Wikipedia, an asset represents ownership value that can be converted into cash. NO: A house is not an asset. An asset, as re-defined by Kiyosaki in Rich Dad, Poor Dad, is something that generates money for you. A house, in this context, fails to qualify. It is a dead loser from the moment it is bought i.e. taxes, repair costs, insurance, interest on a mortgage, etc.