sscritic wrote:I guess I am missing something on a basic level. If you don't believe in mortgage debt, pay cash for your house. Paying off a mortgage you took out is a cop out; obviously you liked mortgage debt or you wouldn't have had a mortgage in the first place.
I recently bought a house; I didn't pay cash, I took out a mortgage. Why would I then turn around six months later and sell $200k of stocks to pay it off? I didn't want to pay cash; I wanted to keep the $200k invested. It's really simple. Do or don't, but don't do and then turn around and say you didn't really want to.
I think you are missing something on a basic level. Many people, including me, took out a mortgage because not because we liked mortgage debt but because we wanted to live in our own place, not rent any more (and renting is often an unwise move financially). But rather than wait until we had saved up enough to buy a place, something which could take many, many years, we opted to go out and buy our place and take out a mortgage. This did not mean we wanted to keep said mortgage for its full duration or liked keeping that debt around so we paid it off early - not necessarily 6 months after we bought the place, but in 5 years or 9 years (like I did) or 15 years or 20 years.