renting the capital
Housing without debt
Alastair Parvin

A clear distinction to make is between investors and owner-occupiers. Or put more bluntly — people looking for an asset to invest in and people looking for a home to live in. Investors take on leverage. They leverage their equity if they believe the return on the investment is greater than the cost of borrowing. And you put it quite rightly. Others rent money, borrowing from their own future.