Handie, that is a good analysis of the financial aspects of owning versus buying. Owning can be a pain, with all the headaches about lawn companies that don't work out, mould, tax increases, etc. But I don't think the decision is all about math. :
For me, there was also an "emotional" component when we made the decision to buy. I wanted the flexibility of our own place so that we can go to TV any time we want, and stay in the same neighbourhood. I wanted the security of knowing we will have the exact type of house I want with privacy in the back yard and my two dogs welcome (a Courtyard Villa backing on a golf course). My husband will often be in Canada working, and I feel secure in a Villa. I can leave my clothes there, I know a comfortable plush king-size bed awaits me, I would have friends on the street that would become my new "family" away from Canada, many intangible benefits! I can lend it to friends when I'm not using it. A more expensive way to go than renting for sure, but for me, emotional security is priceless!