The future value of $50k with compound interest @4.4% per annum is, of course, $179.2k ($3m is the sum of all annual values, a formula for which I had from my earlier rent calculations), and the future value of $5k per annum investment is $305k. So the total money on my hand after 30 years of renting is 179K+305K-352K = $132k.
The total money on my hand after selling my house depend, of course on the selling price, and assuming that 3.3% per annum growth is sustainable for 30 years, my $300k house will be worth $814k in 30 years. Therefore, the total money on my hand after 30 years in that scenario is 814K-558k-150k-49k=$57K.
Therefore, I am still better off renting than buying, not to mention the smaller risk factor.
I apologize for the error in my previous posting.
Wojtek