| 1) already covered by others. Lots of places, rent is essentially the same cost as a mortgage payment. So do you want to pay off someone else's mortgage or your own?
2) Silly. I mean, just read it.
3) There are points there. The responsibility of owning is a toughie. And people are too willing to take on debt. But notice I say responsibility. The actual costs are handed down by the landlord anyway -- the benefit you (may) get as a tenant is a sort of insurance, in that a landlord with lots of tenants spreads the risk out further.
4 and 5) in the long term, housing is still a good investment. World population is still increasing, world surface area is still remaining the same, cities are still expanding... unless those things reverse, property will nearly always appreciate in the long run, and a house kept in good repair will probably appreciate enough to make it worth keeping in good repair -- bubbles notwithstanding.
But, most average people don't buy a house with the explicit goal of selling it, anyway -- they buy a house to own a house. If you get years of enjoyment out of it, you should be happy that you can sell it at all -- after all, look at how much in our lives today is "use once and throw away"! | 
