It’s not essential at all, plenty of people never own property in their life. Especially these days with condos, the concept of owning the land is rather irrelevant since you don’t really own a specific part of it, just an interest in a shared property that you have very little individual say over.

You WANT your own little piece of land, and that’s fair enough, but currently our system of ownership is causing problems for a lot of other people who want a place to live too but just happen to have been born too late to afford it reasonably.