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I'm impressed by a couple things in your post.

1) you were paying $1000 a month rent in 1965 and it was a fixed amount all the way through 2015.

2) you make no account for paying the mortgage down with add'l principle - earlier. If you add $10 a month to a 30 year mortgage payment you pay it off 14 months earlier (for a 5% interest loan).

3) you make no mention of the value of the home appreciating over time which - though it may happen for your landlord that doesn't benefit you.

4) you have no control over what you are renting. If the landlord decides to sell the property and the new owner change it to condos you have to move or buy.

5) maintenance and repair also adds to the value over time.

Lastly, the same costs you have as a homeowner the landlord has too PLUS he wants to make a profit. So he is paying a mortgage, property tax, property insurance (and you're likely paying renters insurance) he is paying maintenance and repairs and wants a profit so you're footing that bill and have no control over who else he might rent to.

One of the flaws in any analysis like this is that a comparison between owning vs. renting is usually presented over the course of many years. That's because it only works in favor of a homeowner over a long period of time, and only with the benefit of hindsight when you have already lived there for 20+ years.

One big difference between owning a home and renting a home is that you are always buying at the current market rate for buying the property, while the cash flow for a landlord is based on the value of the property when he purchased it. If you buy a home today, you might pay $450,000 for it. But if you rent the same home from a landlord who paid $200,000 for it 20+ years ago, the landlord can make a lot of money even by charging a monthly rent that is much lower than a mortgage payment on the same property.

To reinforce this point, just do some home shopping in a nice neighborhood near your home. Calculate the monthly cost of buying a home, then see what it would cost to rent the same home in the same neighborhood. I can guarantee you that the monthly rent is far lower than the monthly cost of owning the home.

“I’m impressed by a couple things in your post.”

Good lets see your numbers. I’m just average Joe but you
seem to be way more informed than I am and can do a
more thorough analysis of the long term cost of a home.
As for rent, what is rent on a $240,000 home?