I used to have a similar mindset as well when I was younger that renting was better then buying. But mindsets change as circumstances change. As some comments have noted, owning your house is mainly for stability as landlords can't keep upping the rent every 6 months, especially in the tight housing market in Australia with rental vacancies at under 1%.

It also depends on the tax regime in your country as in Australia, if you "lose" money on your rental, you actually get a tax reduction as this goes into the calculation of your assessable income. With a good tax accountant, you could be cashflow positive and get a tax reduction at the same time.