>you're better off just renting it and saving the difference
Saving significant amounts of money while renting it's a luxury many people don't have.
Owning your own property is also an insurance against old age poverty. You can pay current market rent with your salary, but you won't be able to with a state pension.
If you pay off your property by the time you retire, it's basically free rent after that. Meanwhile you're paying your landlord's mortgage and owning no asset at the end.
Your math works if you "win the lottery" and get some rent controlled apartment way below market rates, then it makes sense to keep renting and investing the difference somewhere else instead of owning.
Saving significant amounts of money while renting it's a luxury many people don't have.
Owning your own property is also an insurance against old age poverty. You can pay current market rent with your salary, but you won't be able to with a state pension.
If you pay off your property by the time you retire, it's basically free rent after that. Meanwhile you're paying your landlord's mortgage and owning no asset at the end.
Your math works if you "win the lottery" and get some rent controlled apartment way below market rates, then it makes sense to keep renting and investing the difference somewhere else instead of owning.