I'm in total agreement- and as such just about everything you listed you would rent instead of buying, and businesses exist to rent them out. When the purchase price drops below some point, it becomes cheaper to buy and own than to rent and so the economics of trying to lend or rent them just don't work out.
There is also a middle ground. For example, many people choose to rent their washer and dryer or living room furniture while most people purchase it. But for an item like a $20 drill, I don't think there is a point at which the small amount of room it takes up outweighs the cost and inconvenience of having somebody come and create the holes for you. Which goes back to my original point- this logic is backwards-looking. There may have been some time in the past when you simply didn't have a tool to make holes so you would have to hire somebody. But because people's time is expensive (as well as the tools) the invention of a battery-operated drill would be viewed as a huge leap in convenience. Now I can just go out to the garage and get my own and in ten minutes do the job that would have previously been very costly.
There is also a middle ground. For example, many people choose to rent their washer and dryer or living room furniture while most people purchase it. But for an item like a $20 drill, I don't think there is a point at which the small amount of room it takes up outweighs the cost and inconvenience of having somebody come and create the holes for you. Which goes back to my original point- this logic is backwards-looking. There may have been some time in the past when you simply didn't have a tool to make holes so you would have to hire somebody. But because people's time is expensive (as well as the tools) the invention of a battery-operated drill would be viewed as a huge leap in convenience. Now I can just go out to the garage and get my own and in ten minutes do the job that would have previously been very costly.