That's sort of what we did. Although the mortgage is painful, it's not big enough to risk sinking. So far return on this house has been ~6%/yr which is pretty crap but that is tax-free (and not adjusted for the leverage used) so not quite as bad as it first appears. Property tax, mortgage interest, maintenance etc cost less than renting a similar house (which I would never do, if I was renting, it would be smaller to save money). For a long time we (and most other canadian homeowners) were grossly overweight on housing. I'm still overweight on housing but things are correcting as markets appreciate at a far higher rate.
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