I think you miss the point. The point is, if you had taken out a mortgage, you could have invested the money elsewhere. If you did this, you would have made a profit on the property, and you would have made a profit on the money that you would have used to purchase the home.

For example, if the property went up that much in three years, if you could afford to purchase the home outright, you could purchased two by taking out two mortgages. Then you would have had two properties for the same money, and through leverage, by the end, twice as much money and profit.

Hope that makes sense, Grace, and thanks for the comment!