The equity shows up as a net asset on my Personal Financial Statement.
I
can borrow against it. If I sell the house, it goes in my pocket. To
put
it simply: it's profit.


**********************

If you sell the house it goes in your pocket for as long as you're
happy to live in a tent, or a mobile home. :-)

Fact is, unless you are willing to lower your standard of living by
moving to an older, smaller home in a crappier neighborhood you will
take all those sales dollars, and possibly more, to *replace* the house
you just sold.

Real estate is a good investment, but a primary residence is not
considered investment property.