A guy I know says you're a loser if you don't own a house. He's a prick, obviously, but he's not the only one who says it. Of course, owning makes better sense than renting for some people, but it's not a universal truth.
You want to buy a house? Buy a house.
I prefer renting, and it's not a temporary step while I save up to buy a house. It's not because I can't afford to buy a house (though I certainly can't afford to buy a house). I'm renting because I don't want a house, and all the hassles, taxes, chores, repairs, and unexpected expenses that come with owning a house. Renting is another valid choice, and it's the choice I've made.
As a tenant, when the pipes freeze it's not my problem. When the heat goes out or the air conditioning doesn't work or when the faucet drips it's not my problem. It's the landlord's problem, along with hiring someone to mow the lawn, shovel the snow, and plow the parking lot during the winter months, and keep the roof from leaking, get the washing machine fixed, and have the basement sprayed for cockroaches. I'm guessing it was expensive when the yard needed to be dug up to replace the sewer pipes, but that was my landlord's expense, not mine.
Rent is very much not "wasted money." It buys a roof, four walls, and a door that locks safely, and best of all it comes with the freedom to be cheap and lazy.
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