I don’t think people are obsessed with ownership for the sake of ownership. There are a large number of benefits to owning which the individual might find valuable enough to pay for:

- more space

- individual outdoor space

- control over your own area. Can paint or remodel however you like.

- Dealing with terrible neighbors isn’t nearly as bad.

- location might be quieter and more desirable

If we compare renting a house to buying a house, the cost just doesn’t make sense for rent. It’s much higher than renting an apartment in cities