Why do people rent

People rent because of mortgage bonds to repayment cycles. Sometimes, the repayment amount is more than the rent.  The costs related to property investment like tax and stamp duties have increased significantly. A home requires multiple unpredictable expenses and regular maintenance which can be a burden, while, rental accommodation may not require such expenditures.  Market downturns lead to a decrease in the price of homes and people who want to sell, may have to wait for years to get the price they initially invested.