Ha, you are right about "ownership". But It is about LEVERAGE. Where else can I get a quarter of a million dollar loan at 3.5% for 30 YEARS, Turn around and RENT it to a tenant, who pays the mortgage AND gives me my capital back within A YEAR.
As the owner, I can hold off the sheriff for 2 YEARS. I treat the sheriff nice. He is the same guy who will get a deadbeat renter out of "my" house in 2 WEEKS.
Of course I write the whole thing off as a loss on my taxes, and every once in a blue moon, I give some money to the local congressman who makes a phone call to the bank for me to forgive the loan in the hopes that I will eventually give them SOME of my profits.
Life is built on the 30 year mortgage. Some play it better than others.
Ownership is an appeal to vanity. It is what poor people use to separate rich people from their excess money.
Unfortunately for many, serfdom is a state they are born into and are too stupid to escape from. Then they vote for governments that are playing for the other team.