borrow at 8% for a 2% net return ? ouch, page-79

It is not forced saving - but it is a fantastic focus if you are debt averse. We scunged and scunged to pay off the mortgage: can't do that now! And we are fairly disciplined still.

That's why you get permanent renters. They can't save. Too easy to spend a tiny deposit on a new car, boat, holiday etc. Nor am I knocking that, it's their choice. Some renters I've known have been only too happy not to have the stress of a mortgage, and couldn't give a rats' about missing out on the housing boom.