This. In 2007 and 2008 we saw what having a mortgage meant: it meant being unable to move. Having a mortgage is akin to renting capital, but unlike renting pr

This. In 2007 and 2008 we saw what having a mortgage meant: it meant being unable to move. Having a mortgage is akin to renting capital, but unlike renting property, moving is made difficult by having a mortgage -- much more difficult if it's under water. Sure, owning outright is nice, but for young people it's neither a realistic possibility (not having accumulated enough capital yet) nor desirable for the same reason as above: young people need to be free to move wherever the opportunities are.