Debt adverse people believe that you should never borrow money for anything. They rent for a few decades in the smallest flat they can get and scrimp and save every cent so they can eventually buy a small house outright. It is a perfectly good idea to be adverse to debts, but not all debts are the same, you have to be adverse to the right kind of debts.

Real debt is borrowing $40,000 for a new car at a high rate of interest, driving away and just by taking it home knocking $4,000 from the value and still owing $40,000 on something that is going to continue losing value at a frightening rate and will cost you a fortune in registration fees and petrol for the next 10 years you own it before you eventually sell it for $15,000, and after paying money into the loan for all that time and putting in the $15,000 you still owe $5,000 on the car you no longer own. That is consumer debt, and that sort of debt should be avoided. People who go wild with their credit cards suffer from the same thing.

As long as you don't make a totally inept decision when buying a house you should over time enjoy a certain amount of capital growth, in an owner-occupied home this is tax free, and historically real estate values tend to appreciate at least in line with inflation and bank interest, so buying your own home can be a very good investment. Your money for all those years has been going into paying off your house, and can provide a springboard for further investment as lenders recognise the equity in your home as a valuable asset.