<prompt> Human: Im looking for justification to take on a mortgage that is appropriate for our household income. We currently spend about 12 of our gross income on rent and are able to contribute fully to our 401ks and save money at a pretty good pace. It looks like a 15year mortgage and taxesutilites on a place of an acceptable quality and location would bump that up to about 21 of gross income. In following this sub and listening to financial planning podcasts, there seems to be the idea that mortgage debt is neutral or positive compared to auto, student loan and other debts. Are there enough tax incentives and other strategic reasons to justify the emotional burden of dragging around a large mortgage debt?  <response>: A mortgage is debt, but some reasons why it is a more acceptable form of debt include: interest rates tend to be lower than other types loans, and mortgage interest is usually tax deductible real estate tends to appreciate compared to other tangible consumer assets housing is a constant necessity, and it could be advantageous to buy property to lock in your costs see rent vs buy calculator in FAQ most people cannot afford to buy real estate with cash, especially when starting their working careers 