[tommiegannert]

It was also a very simple way of making people save money for retirement: the bank would require you to slowly pay off the loan, so in the end, at least you'd own a house. In a world gaining population, you also have a speculative aspect, but it was a good idea even without that. At least it protected the real value of your savings.

With laxing repayment requirements, volatile markets, and easier access to other investment types, times have changed. If you know where you want to live, it's still an easy way to save money, but a stock market index fund is equally simple to use.