A friend of mine lived in a rental for 15 years. Had the house filled with all sorts of stuff that he moved in with, plus accumulated stuff (paperwork and professional magazines mostly).
Last month his landlord gave him thirty days to get out. It took him 40 days - so he had to pay for all of Nov. as well. With all the time spent packing and moving (to a storage place) he is just now figuring out where to live. (Staying with a friend).
Oh - he’s 71!
That’s a major issue. You are generally protected in bankruptcy in the event of an actual hardship. Renting? You’re on the streets.
Renters generally move more often too. If it’s a property value of $5000 worth to move and a renter moves every 3 years, total moving costs adjusted 2% inflation over 50 years is an astounding $130,000. That’s a 25% down payment on a $300,000 home!