Don't try and turn this into a ridiculous class war statement on me. Am I a homeowner? Yes. I've literally only been a homeowner for 13 months. Before that, I rented for over 26 years. Most of my friends still rent.
And yes, there are people who choose to rent - some choose the motility, some choose to invest over mortgage and some choose to remain renters for the reasons stated in the start of this very comment thread. Don't pretend otherwise.
You're still acting like loan debt repayments and a rental payment are the same thing. They are not. I don't care how many times you go to the "if you stop paying you lose your home" well, that's the barest, most facile comparison imaginable.
In short: I don't care how badly you want to be a pontificating chud
A bank does not legally own a house under mortgage.