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Financially it may not, but done people like their lives to be uncomplicated, and renting lends itself to that kind of person.
Is it less complicated? With renting you still have leases, weird rules, lack of control, rent/fee increases, creepy landlords, and the futility of trying to get security deposits back. Less paperwork, maybe. And it is kind of expensive to buy/sell if you plan on moving often.
Renting made sense for me basically when I either didn't expect to stay long, or before I could afford to own.
I think it's way less complicated.
I paid my rent and in return I got peace. I didn't have to worry a sudden plumbing or heating bill. I didn't have to furnish a house-sized space. It was just an easy life, but the only way I could guarantee that I'll be able to stay where I want to be was buy purchasing, so here we are.