Renting is really wasting money if you only rent then nothing is left on you at the end, in my country there are houses or company that has a rent to own program you will rent thier house for a couple of years and after that you will own that houses which is very good deal but expect that the price is more expensive than a normal house price, because that was also thier business they need to have a profit on it but it helps a lot specially to those who cant afford to build or buy in cash basis.
Renting something if not to open a certain business will obviously be very detrimental. Because if it's only for a place to live, in the neighborhood where I live now there is a credit system for those who can't afford to buy a house in cash for a certain period of time. And I think this is a very wise choice because they can pay off their credit every month until everything is paid off, because some people who have taken home loans for their residence are also not that difficult to pay off their credit every month.