Well, I guess if you take the recent downturn and use it to look forward, it makes sense. But we saved years ago, bought our land, and then had 25% down. We did not finance the grass or landscaping, the well, or the fencing for 30 years either. Ditto on the furniture. We still don't have granite countertops, but we are planning a modest remodel soon with CASH set aside over time for this project. We did refinance when the rates dropped so low about 6 years ago, but did not take any cash out, so our house is nearly paid for in 14 years. Being in the business has shown me what type of homeowner typically loses their home, and its not those who save cash and buy during down markets like we did. Those who buy now and hold tight will look back on these days as we do, and will be glad to truly own their home in about 15 years. There is something to be said for cash on hand, but a house that's paid for goes a long way in any market. In retrospect, I was recently doing an audit on the last three years of a business I recently sold/closed. With what I now know, I would have saved over 30k per year in various expenses, which would have looked good dropped into my principle payment on the house, or completely prepaid the upcoming remodel project. However, it is a nice article, but I think we need to differentiate between modest comfortable houses and the Mc Mansions that are a waste in any market, not just this one. Mike Norvell Sr

I forgot to say: I think the author makes sense, but I'd still rather have a multifamily (owner occupied) than rent.

Great article, thanks. I have an owner occupied multifamily (2 unit). Everyone in my family has always owned this way... and as they have gotten older and the mortgage was paid for, the rent basically covered all the house repairs. I would feel scared to own a house without the attached rental income.