Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Why do people use mortgages, when they could just pay for the house in full?
Besides all of the other answers, I will point out that many people simply don't have enough cash sitting around to buy a home outright.  It would take many years (or even decades) for the average family to accumulate the necessary cash. Also, while you are pinching your pennies for years in an attempt to save up for your dream house, remember that inflation is steadily driving up the cost of goods and services.  A house that costs $200K today could cost $230K in 5 years due to inflation.