I consider my home to be an asset, that I'm still paying for. We bought during the housing bubble and it has appreciated. If I had to rent it I would be paying more for rent each month than my mortgage and the monthly expenses of associated with homeownership.

Also in the US I write off my mortgage interest and property taxes against my income.

Additionally, if you plan to stay in the house for a longer period of time, the appreciation can add up. My parents current home was purchased about 40 years ago, it is now worth 10 times what they paid for it. The reason land is a limit resource.