This might be going off the main topic here, but I'll address it: For someone who has the ability to pay outright, I agree that paying a monthly amount might give some flexibility. If someone is making a monthly payment because thats all they can do, its basically debt and holds you down. I agree though, that its not always black and white.
Back to the main topic: Should renters be indebted to home owners? Its all a case of supply/demand. I dont see renters having a shortage. Which means that more people are willing to rent out their home, than renters wanting to find a place to rent. In this market, homeowners need renters more than renters need homeowners. If say in a hypothetical situation all homeowners stopped putting out their houses for rent, more people will gravitate towards other sources of rentals like rental properties owned by companies. These rental property companies do not have an emotionally-vested interest in their home. They see it just as a service.
I agree when you pay off the money for your house, the renters give you free money. But this is close to the end-game and by this time you would have to factor in also opportunity costs. I am not saying the opportunity cost is huge, but usually a mortgage holds you down for 30 years (in most cases), and its too long a time to just consider what happens at the end of it.
Back to the main topic: Should renters be indebted to home owners? Its all a case of supply/demand. I dont see renters having a shortage. Which means that more people are willing to rent out their home, than renters wanting to find a place to rent. In this market, homeowners need renters more than renters need homeowners. If say in a hypothetical situation all homeowners stopped putting out their houses for rent, more people will gravitate towards other sources of rentals like rental properties owned by companies. These rental property companies do not have an emotionally-vested interest in their home. They see it just as a service.
I agree when you pay off the money for your house, the renters give you free money. But this is close to the end-game and by this time you would have to factor in also opportunity costs. I am not saying the opportunity cost is huge, but usually a mortgage holds you down for 30 years (in most cases), and its too long a time to just consider what happens at the end of it.