Asset Perspective

What is Asset? In an accounting aspect it says here that an Asset in a simple term is a property owned by a person or a company. So in short, these are the things you claim that you own and in some cases, these are the properties documented under your name and it is solely or partly ownes by you. For example are your houses and cars.

 But in a building wealth perspective or point of view, Assets should not be just anything or property but Assets should be income ingenerating by themselves and you can generate income from them and not expenses only. A house will only be an asset if you lease it and make a constant income from rental fees you collect. So basically, an asset should be a property you own that generates income constantly and will not cost you more expenses.