The logic behind long term tenants

[Roy C.]

I don't understand people who are long term tenants, and the logic behinds it bothers me. 

They are paying monthly rent to other people, which doesn't make sense to me. If they have money to pay rent each month for long period of time (I am talking more than ten years), why not save and buy their own property? From what I heard, there seems to be a vast amount of long term tenants. 

Am I missing something here?

Can you guys share the story of your long term tenant and why do they decide to be tenant instead of a homeowner?

[Destiny Fargher]

My parents rented the same house for 20 years when I was growing up. There were two main reasons:

1. They couldn't afford to pay rent, raise 3 kids, AND save up money for a down payment. Any extra money went towards paying for school supplies, after school activities, and tent camping vacations. Their focus was completely on child-rearing and just surviving month to month.

2. They claimed bankruptcy when they were younger and assumed it would ruin their credit forever. They weren't financially savvy, and didn't realize that you can rebuild your credit over time.