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We have lived in our home for 28 years and to this day, it's just an investment. That statement is true but it's to illustrate my perspective.
As a child we moved alot. I went to 11 different schools before high school. We moved because rents would go up or we couldn't pay the rent or we hid from bill collectors. Sometimes our belongings were put out at the curb, sometimes our pets were put out before we got home so, I don't get attached to things.
On the other hand we as a family, my wife and daughter, have made very good memories everywhere and all of the time. That is irreplaceable. That is the only thing I will take with me on this earth and what I leave behind. Sure my family is well taken care of financially, free to do what they want with anything I've left behind.

In direct response to your response, rents go up, period. A renter is at the mercy of a landlord and whatever the current market dictates. I refied my home a few years ago with a no cash out 30yr loan @2.9%. I say this not to brag but to show another possibility. The mortgage payment is low enough to make double in rent if I choose to and yet with enough equity to pull substantial funds out if needed. A 50 year loan is not a curse, it's an opportunity. You, the consumer can choose other options.
A longer loan just gives you choices. It's kind of like a college education. I taught my daughter that a PhD. doesn't guarantee a job or higher pay. What it does is give you more choices.

You can choose to payoff the loan in 30 years if you choose to, in which case you save all of that interest that you might have paid. No harm no foul.