This is incredibly financially unsound advice. A mortgage is the cheapest, most secure debt most people will have. Even today, with current interest rates, if your goal is to buy a home, it is far more financially sound to take out a mortgage and invest your liquid cash.
Of course the more fundamental question is, should you buy a home at all? And that's a complex decision. But if you do make that decision, sinking significant liquid funds into property instead of using relatively inexpensive leverage is, as a general rule, a terrible financial decision.
Of course the more fundamental question is, should you buy a home at all? And that's a complex decision. But if you do make that decision, sinking significant liquid funds into property instead of using relatively inexpensive leverage is, as a general rule, a terrible financial decision.