Leasing vs. Owning

Was looking at the FA ads and came upon this.

Started me thinking, why would one own an expensive HP Piper Meridian when you can dry lease it for $450/hr?
Of course it would depend on usage, but that seems cheap to me for such a craft.
Any insight by you pilot types to satisfy my curiosity?

$450/hr dry for a $2000k airplane seems pretty reasonable to me compared to a $500k airplane for $150/hr dry. Not all costs (hangar, etc) scale up that severely.

Owning gives you tax write offs for one, (Not to mention the HUGE tax incentive the IRS gave new buyers recently). Also, knowing no one else abused it on the last flight and will leave you with a nasty little (or big) surprise is another plus for owning. Impressing clients never hurts business either.