The house value does not need rise enough to offset the interest + taxes unless you're buying it and leaving it unoccupied for all this time.

If you need a house to live in, the monthly rent for a 1MM house is likely going to be over $3k. Over 30 years this will come out to be $1.08M, much more than the $870k in mortgage interest + taxes for owning the house. On top of that there's the 20-30% tax discount on the mortgage interest that will make owning even more favorable.