The first 5 or so years of 30 year mortgage you don't really pay off that much at all, it pretty much is interest, plus other holding costs and depreciation - money on fire. I was lucky with my place my last place and gain some significant equity in the first few years, but the value has been flat since the GFC. I haven't been living in my place for a few years either, I've moved around to where ever suits at the time.