a year
The idea is that you can pay off your mortgage in 10 years or so. You are paying off someone else's money (the bank) but at very low interest rates. In the meantime, you are living rent-free. The mortgage interest deduction saves you money on your taxes as well. And then when the mortgage is paid off, you own the house free and clear and can live there for free forever! Or sell it and buy another one with cash and do this again. In general, it's better to own than to rent because of this tenet of "buy low, sell high". Which is what happens when you buy a house and then sell it later after the price has gone up.
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