[Sylvanfan]

The problem is that they keep selling it as if this is the USA and that the loan against your house is something you want. The huge difference is that in the USA the interest on your mortgage is tax deductable, so if you're going to have debt make it tax deductable. In Canada we don't really have that option. There are methods you can use, but none of them are as simple as just writing off the interest on your mortgage, especially for people who don't have a multi million dollar net worth and only one property to their name.

I don't mind the idea that eventually my mortgage will be converted into an investing line of credit so that 15 years down the road technically my house is paid off, but I'll still have the value of the house in debt but invested in something else that is tax deductable and strategically placed in an investment where I should see some growth. I think that will position me to come further ahead.

But the worst thing you can do in Canada is to continually add to your mortgage or take out HELOC's and than keep spending it on consumer goods and other stuff where the loans are not tax deductable. We pay far too much tax in this country to get away with strategies like that.