Is The Ip Address The Location A Person Lives?

Not necesarily however with the internet anything is tracked down, so basically an IP address that was used by you is an IP address that was specifically used by you at that certain point in time and nobody else had used it unless of course there was some cracker using your ID and spoofing you. Basically yes you can be tracked down because we are all connected in some way by some router out there. :) hope this helped.

As Nemesis_90 says yes...and no...it can be traced to the nearest router to you...then with the cooperation of your local Service provider, they can see who was assigned that IP at the time in question and look up you name and physical address. With cracking this can take a little time, but for the most part, the spoofing signatures can be followed and eventually traced as well.