Shangrila, I don't have definite answer for your question, but I...

Shangrila, I don't have definite answer for your question, but I suppose it depends on a lot of things. There is no point for bragging, as different people have different circumstances. It doesn't make sense to take massive loan now, but I suppose, it did 8-10 years ago!!

Our family is also debt free. With substantial saving, and probably a similar amount in our share portfolio. We have cash to pay outright for an nice house in Brisbane now. BUT, this is because we've been saving for around 10 years!!! Imagine how painful is that! (Well, actually it's not that painful because we spent the last 8 years overseas as an expat and travelling).

So we missed the ride on the Australian property, but at the same time, we've been able to save because we are overseas (cheaper cost of living and tax than Aust). At the end of the day, we're probably not much worse of than people who bought property 9 years ago. The difference is, we enjoyed a debt free lifestyle.

Disclosure: We are waiting for a cheaper entry in property. I am a stay at home mum, playing around with shares on the ASX. My husband is our family's sole earner.