At any point that I feel like it, I can pick up and move. Whether it is to a place across the street or on the other side of the country.
I wouldn't have nearly that much freedom if I had the misfortune of owning my own place.
Buying a home is a bad investment, because I could have all that money getting 7% returns in the stock market.
One very reasonable 'end game' for those who do not want to own is to invest enough cash in the stock market so that your rate of return supersedes your rent, thus guaranteeing that, if rent increases are within reason, you are able to finance renting interminably. Stock markets typically have a higher rate of return than real estate, so...