Perhaps it should... but it isn't. It's perfectly reasonable to believe that it should be this way, but it's irrational to behave as if it /is/ this way, when

Perhaps it should... but it isn't. It's perfectly reasonable to believe that it should be this way, but it's irrational to behave as if it /is/ this way, when it isn't. The reality is that, at least in the US, it is a requirement for nearly everyone to have a mortgage to purchase a house and even for those who can afford to purchase without a mortgage it makes more sense to get one anyway since mortgage interest is usually lower than the rate of returns for other investments you would be keeping the cash in, and you get tax benefits both by not realizing gains to liquidate investments to buy a house and the interest for the mortgage is tax deductible via the mortgage interest credit program. Acting as if anyone is realistically out here buying houses in cash other than corporate investors / REITs, is silly. Even people on significant tech salaries are both better served and much more probably to have a mortgage even in LCOL areas.