An important part of simple, peaceful life is discharging your debts; not always easy, as circumstances can be different, but it is an essential. And when I say debt, I include mortgage in the definition as well; I’m not saying a mortgage is always wrong, and never acceptable, but today people tend to forget that mortgage really is a state of debt; that a mortgage means one is not really an owner of one’s home, or at least, an owner only conditionally – because if something happens and the payment cannot be made (in a case, say, of an illness and/or unemployment), the owners face a very real danger of losing their home.
Owning the roof above one’s head, free and clear, is therefore an important part of one’s peace of mind. If your home is your own (as much as any earthly possession can truly be our own), a reduction or loss of income is, of course, a blow – but at least you have your safe haven, which is yours, and you don’t owe anyone anything for being under that roof.
Having said that, I will allow myself a little vent and say that, at least in Israel, paying for a home without a mortgage is a near-impossibility, as the prices of land, and consequently housing, are very, very high. Most young families – unless they are fortunate enough to inherit property, or to have parents who can assist them in a very material way – face being bogged down by very considerable, suffocating debt.
Is there no cheap land or housing to be found here? To be sure there is; and we did find it when we were first married, even though it wasn’t exactly the home of our dreams, and we have moved since. We rented for a couple of years, and these days we once more live in a home we have bought outright, no mortgage. It was hard, hard to find and involved many compromises, but we did it. When people here are rioting for “affordable housing”, I think they ought to amend and say they actually mean, “affordable housing in the tiny over-crowded piece of land that comprises most of the country’s population” – which, in all fairness, I don’t think possible. Yes, there are sparsely populated areas with affordable housing – but the problem is, to live in such an area means fewer opportunities of employment.
Obviously, each situation is unique, but there may be several options. Working from home, or mainly from home, is one; re-considering the possible length of commute is another – some people park their cars at the nearest train station, and make the chief of their daily journey by train. Or a family may move to a less expensive area as a temporary measure, to obtain low rent, and scrimp and save for a few years to be able to buy a home in a better area with no or lower mortgage.
Another thing I wish for is that we weren’t so bogged down with the difficulty of building regulations. Say “Israel” and “building” in one phrase, and you’re up to political flare-up. These difficulties, along with government avarice, have caused housing prices to soar in recent years. For illustration, the little house we had bought back when we first married (and since sold at twice the price), now costs five times more than it had a decade ago. Did the salaries rise five times over, on average? No, of course not. They stayed more or less the same. Thus the housing issue continues to be really, really tough, and people keep looking for creative solutions.
I believe there is no real solution but a government decision to take the plunge and make use of the abundant land in politically controversial area. In the meantime, people will have to keep searching high and low for individual housing, financial and employment solutions, and pave their own way towards freedom and debt reduction.