I have my own home, no mortgage, pretty good location. Mortgage paid. Wouldn’t want it any other way, either. But for younger people there are so few guarantees for financial and societal stability, the rules have changed.
“the rules have changed”
That to me is the crux of the matter.
Of course the younger folk want greater mobility. No problem with that. They really don’t stay at the same job for years and years...much less the same place.
As I said earlier, I am appalled at rental rates. Even scarier to me is the cost of buying a home right now. I know have officially become a geezer...I can’t believe it! My baby brother bought a house about 10 years ago and I thought he had lost his mind when he told me what it cost.Looking at the real estate ads (which I hadn’t done in years) it was relatively cheap. And the payments were less than renting. The young folks are being priced out of the ownership market.
I am in much the same position as you. And I feel totally blessed. Mortgage free home in a nice, rural neighborhood. I bought the place 30 years ago and couldn’t even afford a dog house today for what I paid for my home.
They can argue that those who have debt are beholding to financial institutions, but that is NOT the same thing, and they know it. They will go out and charge Starbucks to their credit card on Sunday, and brag that they don't have a mortgage on a home. Believe me, I have seen them.