In your case, not the owner, rent money is toilet money because it only benefits the property owner who had the courage to own the space you inhabit, who can make you move and where you have no chance to gain equity… zero. You are only an observer not a player.

The FHA buyer is paying MIP because they did not have 10% plus closing costs is in the game and while there is no guarantee they will gain financially, history is on their side. In the meantime, they have a home, their special place.

My perspective has the advantage of many years and my many homes bought and sold never once at a loss. My almost 40 year perspective is based on personal knowledge of thousands of families who have used high leverage FHA and VA financing to buy their home, raise their families and then retired on their equity.

I cannot promise that when you leave for work you will not be crushed by a runaway bus or have an airplane fly into your head and I cannot promise, if you buy a home , you will make money.

All I can promise is while observers may be entertained they will never be winners at the game they watch.