system
A chat on subreddit /r/NoStupidQuestions
human
A lot of people can't afford option one in the first place. Banks don't give out mortgages without a solid credit score and continuous, stable work (and often a decent chunk of money for a down payment), which a lot of people in poverty don't have. A mortgage is generally cheaper than rent per month, but you have to be able to get it first. Otherwise, rent is the only other option, even if it's more expensive overall.
gpt
That's precisely my point. It takes a lot of stability to own a home, it's a huge commitment and responsibility. A mortgage is not "generally cheaper than rent". A down payment is thousands and thousands of dollars. Plus you have to be able to spring for emergency repairs and ongoing maintenance - thousands per year. Property taxes - thousands per year. Insurance - at least a thousand per year. And that's just for your own home that you live in. If you're a landlord, what happens when a tenant trashes your property, runs off and breaks the lease with no notice? What happens is that you lose money and may lose your property. So I'm just not buying that it's landlords that are holding renters back. Dislike them all you want, the issue is that most renters are not in a position to be buyers. That's why they're renters.