Well, my wife paid off the house before we married. We live in a condo (I prefer condo life for convenience and security) and we rent because the drive to her work is relatively quick.
I wanted to buy a condo many, many times in Bangkok because I do prefer to own for many reasons, including furnishing the place to my comfort and not having to sign annual rental agreements.
However, every single time I look at the prices, I just can't justify buying it ( and I tried many, many times to justify it). The rent is just so incredibly cheap and landlords do actually take care of any issues you have with the unit. So we keep renting and renting.
Now, if I was absolutely sure we would stay in Thailand until we die, then maybe I would buy.