>>315430596
That's ignoring that 100% of rent is spent, while on a mortgage you're paying for the interest and fees while the rest of the money is actually an investment. It's more reasonable to compare the interest and fees vs the cost of rent.
Of course, any investment is speculative. The housing market could take a dump, and your investment could lose all it's value. If investment was a sure thing, where would the interest come from?