I find people continually get bigger and bigger mortgages for some good reasons (growing family, need a bit more space) and some bad ones (keeping up with the Jones). Ergo, people continually need 15-20 years to get out of debt or pay off a mortgage. This is probably true until you're an empty nester and you choose to downsize.
Another aspect is that people change houses really frequently these days. Honestly, I find it's quite rare with my peers to stay in a house they own for more than 5 years. Add up frequent realtor fees, lawyer fees, renovation up-keep before selling etc. and your equity shrinks.
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