We watched our 75 year old neighbor get tossed out of the condo she was renting. The owner died and her son put it on the market as fast as he could, so here she is, 75, living on social security, and trying to find an affordable place (subsidized senior places are very rare here). She can't afford to move back to NY, and her daughter is a poor single mom, she can't move in with her because of the subsidy her daughter gets... she is in a terrible spot. She's hoping to find a roommate situation.

That's the sort of thing that gives me pause, we have money now so perhaps owning would keep the wolf from the door as we age. A paid for place and some money in the bank could go a long way towards peace of mind.