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Because after 30 years of paying rent... you own nothing. After 30 years of paying a mortgage... you own land and a building.

OP said that they don't view housing as an investment thus owning the "land" should absolutely not matter. They might as well rent if its cheaper.

AFAIK an investment is when you put money into something expecting it to increase in value.

Buying a house just so that at the end you own it is not an investment, that's just a purchase with a loan.