It's a completely separate argument than what I was responding to.
I personally agree with you, but thats my specific lifestyle, and I put my money into other investments. But generally, owning a house is a good place to park your assets if you live a "typical" life.
One of the biggest reasons I want more landOWNER residents? So that my neighbours actually care what's happening in the neighborhood+condo, and do something about.
I'm renting from a Chinese investor. He doesn't speak English and doesn't have a clue what's going on around here, and doesn't care to get involved with helping things run better.
I can communicate my issues with the real estate agent who handles the unit for him, but he's just going to shoot off a short email and move on with his day.
Over 50% of this building is this way. The board of directors has a huge accountability issue because of this, and residents and owners are suffering for it.
If you rent, you care what happens locally, but you have no say.
Cities don't want or need more landlords. It needs more landOWNER residents.