11. It can give you pride of ownership you don't get with renting.
12. You can live free for 3 years if something goes wrong.
10: I did the math and we still pay $500/mo more after the tax deduction on same house versus what we rent
11: Sounds like an emotional reason. My emotional reason for renting is security: I can move for jobs (very needed in my industry); ability to save and invest money that I am not being forced to put toward an 85% higher mortgage payment
12: If something goes wrong, my savings/investments cover my cheap rent twice as long as the 85% higher mortgage payment
Addendum to the above is this in LA. If I lived in FL or TX I would most likely not rent given how much cheaper it is to buy.