This North American belief that financial stability has home ownership as a prerequisite is incorrect. Consider as a counter example Germany where much of the population rents their primary residence. Germans don’t feel marginalized for it. They save and invest. They raise children and participate in society and aren’t ashamed of being renters.
The tenancy laws are a major driver of this. My understanding is that the tenancy laws are much more favourable towards renters in Germany relative to the US or the broader Anglosphere, and this changes what people need to feel secure.
