That certainly is an option, although not one most people can afford. The national median existing-home price was $217,000 in 2007 and much more than that in many areas of the country (Honolulu, $643,500; San Diego, $588,700; New York $469,700). Unless you’re independently wealthy or have hit the jackpot, it may be difficult to make a “no-mortgage” investment. And an investment is exactly how you should view it because you get to save on mortgage interest that is usually paid over the life of the home loan – interest that could amount to several thousand dollars, conceivably hundreds of thousands of dollars.