The "no debt" is such an important factor, isn't it? People are buying later or not at all, which means they own outright later, or always have rent obligations. That is going to get very difficult in retirement.
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I just look at my parents which have a favorable morgage 1% rate and have just slowly been paying it off for 30 years but they still need 20 years or so, because they extended it to use the equity in the house to expand the house.
So the house is worth more, but they getting into retirement and still have something like 1 million left in Morgage even with 1% it doesn't sound fun to own that much on a house with the monthly payments x)
So, nope! Gotta stay out of debt as much as possible :p
Yeah, that is still not a fun amount to have to pay off, regardless of the low rate. It would scare me!