quote:Does the term and title 'net worth' only applies to the owner? It cannot seem to say the net worth of my car since its had depreciation associated with it. Or a house. Or a job. The person and or person that own can claim 'net worth' it seems? That's is very trick term 'net worth'.
The car is an asset. The house is an asset. The car would be an asset that just about certainly depreciates. The house could be an asset that appreciates but not necessarily. There can be market appreciation and physical depreciation. Have you ever had a roof leak and had to pay for a new roof? In order to realize that appreciation you must mortgage or sell the house. If you mortgage you take on a liability and must pay every month. If you sell, where do you live?
Net worth applies to the owner. Assets are owned and contribute to net worth of the owner. Liabilities are subtracted from assets and the result is net worth. Grammar school arithmatic.