I think the trick is only owning assets that might appreciate in value.

I wouldn't want to own a car because the value of cars drops as soon as you take the car out of the lot. But owning a house /apartment might be a good idea if the market is relatively stable and you can actually afford it.

It also depends on lifestyle. For a person like me, who moves around a lot, owning furniture for example doesn't make sense. The moving costs, maintenance costs and so on are just a pain. I'd rather rent the furniture, or rent a furnished place.