Renting vs Owning Single Family homes in the Midwest

[Kenneth Hong]

Hello everyone, After listening to many of Clayton Morris' podcasts about investing in the Midwest, it raises one big question that I do not understand: Why would anyone there choose to rent long term for $600-$700 a month when houses costs only $50,000? Are they not able to get a mortgage? The mortgage would be a lot less than the rent. Am I misunderstanding something? Thanks, K