I'd rather have $50,000 I could liquidate to pay for a year's rent then $50,000 in home equity on a condo where if I stop paying my HOA, mortgage, or taxes then I'll lose all $50,000 -- but the vast majority of people think "that would never happen to ME!"

An example from my life: I bought a condo to move to Miami, but my wife's work kept us in her hometown. So after a few months of using it as my primary residence, I started renting it. My costs are $2400 per month, and the tenant pays $1600 a month, of which I keep $1400 because I use a property manager. While most of the difference goes to equity because I got a 15-year loan at 3.875% APR, that interest rate cost me $10,000 in points. I also had to pay $15,000 in closing costs, then I've budgeted another $15,000 for closing costs now that I'm selling it. And the condo fee doubled, in addition to two separate special assessments adding up to another $10,000. So I'm out $50,000 even though theoretically I'm "making" something like $8,000 a year in equity. I expect to make something like $10,000 from the appreciation -- but I'll still be out $24,000. That's more than I would have paid in a full year of rent at $1600 a month, and if I had held off on commiting to a rental until my previous lease was up, I would have saved that, too.

You'll probably enjoy this article
https://www.mrmoneymustache.com/2015/07/27/rent-vs-buy/

I'd buy your argument if renting were actually cheaper than buying, but it's almost universally the other way around.

People don't get home mortgages for a roof over their heads, they want detached walls "because UGH NEIGHBORS" and "obviously" a backyard for the dog and barbecues.