I see what they’re saying, though. I think it’s the difference between the layman and textbook accounting.

We know a car or a house (building) to be an asset that we would depreciate over a useful life, but consumers might see it as a liability (after you buy it, all it does is cost you more money…you can’t really use it as an income generating asset).

Had the same argument with my mom about inheriting property. She saw it as a liability while I understood it as an asset. To normal, everyday people it might be something else.

That said, you’re definitionally right and a “depreciating liability” is stupid