It's not really that important.
But in the majority of cases, by the time you've paid off your mortgage, your house is worth considerably more than you'd have paid for it, meaning you've got an asset to leave to any kids you might have. Given that there is a lack of social housing, in years to come being of 'stock' that owns property will probably open more doors and opportunity than those who have to pay the market rate to rent somewhere.

Add to that, if you rent, you are paying rent for life. If you have a mortgage (aside from moves/remortgaging) you are technically 'rent free' after 25 years, which makes econimic sense.
( JeffTheDogFucker Can you dig it?, Mon 11 Jul 2011, 20:37, 1 reply, 14 years ago)

This
you basically pay the same amount, but after a bit you own it. Rent is dead money and all that.
(berk, Mon 11 Jul 2011, 20:41, Reply)

Yeap, and you're paying for someone else to own it more often than not.

( JeffTheDogFucker Can you dig it?, Mon 11 Jul 2011, 20:44, Reply)