I have no sympathy for people who buy homes and goods that they cannot afford.  In 2001, I bought a modest condo in the west end of Toronto; the mortgage was amortized over twenty-five years.  Whenever I had extra money, I paid it towards my mortgage pursuant to the pre-payment terms, instead of buying big screen televisions and taking Caribbean holidays.  Last week I paid my mortgage off in full, nine years early.  I would not be debt free today if I had bought a home and toys that I wanted but that were not within my budget.