I'm aware of it, but the description sounds just like it more than a group house. I hope I didn't offend you!
Living within your means is always the right thing to do whether you're young or old.
Btw I'm glad that Asian couple (married or not) is smart renting all the rooms including the living room turned into another room. That's a great way to pay their rent/mortgage and they're providing lodging to folks who in most cases don't have the credit to rent on their own. I did the same when I started buying in Logan Circle in the late 70's, folks were always grateful and African Americans specially always paid on time. I debunked many negative stereotypes my family had about them with that personal example.
Are you (and others) allowed to receive family and friends at your room? Do you have a lock in your door? I would be cautious with my belongings and get a safe deposit box at a bank for my passport, etc.
Edit: you say owner so I guess you guys are paying his mortgage.