[Valakas_]

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

[swat535]

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.

[Valakas_]

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.