You know, it isn't such a bad thing to rent for your whole life. Even if we "own" homes, we don't take them with us when we die, so is it that different from a rental that you can comfortably inhabit?

Of course, you can't pass on a rental to your kids... but you can pass on all that saved money, and they can buy or rent as they'd like. I'm with you, and @exyle, and everybody else in the thread espousing this idea - NO WAY, NO MORTGAGE!