[TimPC]

The problem with this argument is that getting a mortgage locks in your housing payments. If you look at the growth in rents over 25 years you don’t come out ahead investing. In year 25 of my mortgage I’m paying the same amount as in year one but in many markets in the US rent has gone up 4.7%/year and that means rent is 315% of what it used to be. When rent goes from $2000/month to $6300/month and your mortgage was $4000/month you aren’t coming out ahead by taking $2300/month out of savings each month to pay rent.