I love a personal finance debate, and this is a great example.

I just wrote a diametrically opposed piece, showing your analysis misses a critical piece that decisively overturns your conclusion:

https://medium.com/makingofamillionaire/your-house-is-indeed-an-asset-and-anyone-arguing-otherwise-is-likely-missing-something-important-82fe4216ff75

The gist is that you forgot to account for the impact of the rent you're saving.