Home ownership is a major indicator of financial integrity. There is pride in ownership, especially home ownership. Real estate taxes are tax deductible. Local tax benefits are available in many areas. You can sell and collect your equity in cash, gaining liquidity.
Profits are usually greater on home investments than most other investments.
Home equity provides a source of emergency funding, since you can borrow on your equity in most states. Land appreciation adds to the value of your home. Home owning can be an important part of retirement planning. More living space. You can have a yard for gardening, a storage area, a place for a workshop or just extra room.