The concept of someone having enough money to rent but not enough to own is ghoulish in the first place.

Don't think you're being a little dramatic? There are many more costs involved in owning a house than the mortgage payment.

If my landlord can pay $<1,200 for this house’s mortgage and upkeep, and I can pay $1,200 a month for the right to sleep in it, then we should simply cut out the middle man and have me pay that $<1,200 a month for mortgage and upkeep directly.

You're paying for not having the responsibility to pay for any maintenance/repairs upfront, and for having the ability to easily pack up and move on short notice. If the roof suddenly needs replacing, that's $9500 on average that you have to pay right now.

Chances are, if you're financially stable enough that you'd be able to handle things like that without it being a financial catastrophe for you, then you do have enough money to own.