– cont. –
There is an interesting twist if you have enough retirement assets that you don’t really need SS to live on, and the SS check covers (or just about covers) the mortgage payment.
Couple your SS benefit with your mortgage payment—have the SS go into a dedicated bank account and the mortgage payment on autopay from that account.
As inflation occurs, the SS check goes up but the mortgage payment stays the same.
In the last 15 years (2007 thru 2021) using the SSA COLA, $1,500 initial benefit has grown from $1,500 to $2,024.
In the last 30 years (1992 thru 2021), $1,500 initial benefit has grown from $1,500 to $2988.
FWIW, the average SS COLA for the last 15 years was 2.0%, for the last 30 years it was 2.3%.
That is how savvy people look at the mortgage/not in retirement question.
Of course, that is for buying a house. The question of rent vs. buy is another question.
I will note that one point is always touted to people who buy residential real-estate to rent it out. "Your tenant pays off your house for you. After 30 years your tenants have paid off the house but you still collect rent each and every month."