JMO - I don't think you have done many real estate deals. We bought our place cash - no mortgage!! yay!
I'm not sure why this keeps coming up, and of course you don't know anything about me or who I am, so you can assume what you want.
It is however a known fact that wealthy people don't usually buy their property outright. They lease their cars and mortgage their houses because their money is better invested elsewhere. If you have no interest in using your money to make more, then sure, buying your house or your car outright will work for you. It isn't the smartest thing to do, but I guess it's admirable.
In hindsight, this discussion has revealed something - DM is not the most savvy when it comes to money. Buying that condo in Toronto "in cash" is not something his Dad or Grandfather would likely have done. They would have used that money to invest in their business, or to buy another apartment building like the other one they own. I wonder if he financed the farm, or paid cash for that too? Was that ever mentioned?