No, the argument is that he could comfortably experiment with starting his own business because his financial obligations are minimal.

  If I had bought a property I would have had to service the gap between
  the rent and the interest repayments along with other costs like
  maintenance etc. If I could buy a property outright, or if rental
  income serviced the debt and made me money, then I’d buy property but
  it never does.

On his last point in that quote, I can't actually find it now but I believe I read on Calculated Risk recently that rental income will service the debt from a recent house purchase at this point. Now really is a great time to buy. :-) (In the US. The Australian market is still insanely overheated.)