text: Assets: ... her rental condo $327,500
  Liabilities: Her rental mortgage $255,750 
  
  Own the condo with a mortgage or rent it? Please pick one and stick with it. 
  
  No other liabilities / debts were listed. If accurate that is a good personal finance situation, but apparently highly unusual. 
  
  A mortgage could be viewed as a form of Rent, if you take forever to pay it off, but calling it Rent is confusing. Most people use the word Rent for a non Asset place to live.
  
  I find that the startling part about owning a mortgage free home is that the assessed value often rises by more than our Net Income each year. Wait for the next house market crash?
  
  If memory serves me correctly in "The Vertical Mosaic" John Porter made the point that most Canadians made less than a "Middle Class Family" income at the time, and that folks who wanted to "own a home like my parents" somehow forgot about taking an entire working life to pay off a mortgage, and taking in boarders or renting out rooms to do that.