It's only people who don't have a car who see that as a waste, those who do understand that their required associated costs like having insurance on your house or paying for you utilities. Imagine if you were homeless and didn't have to waste so much money on rent, electricity, heating, and water!
A habitable place to live (own or rent) isn't negotiable. Owning a plane, boat --or even a car, is. For many lower-income individuals, transportation is a significant percentage of their disposable income. A car may not be as expensive as housing, medical care, or food, but it's optional and only used 5% of the time. If there was a good alternative at a fraction of the price, most people would use it. This is why most residents of NYC and European cities don't own one.