Interesting article, as I know quite a few folks that have gotten caught in that whole trap - most notably my McMansion building neighbors who are swimming in debt and engaged in unending wage-slavery. They also seem to openly flaunt the stones to look down on my humble little abode (which is paid off).

I personally learned the hard way earlier in life to carry no debt, and is kind of fascinating to watch as they finance overly large houses (for 2 people that never see each other as they are both working 2 jobs to barely afford their finance charges), 2 or 3 yuppie-mobiles (no time for kids or a family to drive around in them for the same reason) and charge up lavish vacations against their equity (they have to as their credit cards are all maxed out). I swear it is like 2008 just never happened for them to learn from or something.

Personally I enjoy living with money in the bank. Its the biggest luxury I have known.