I disagree. Typically, after 30 years you own the house. You can sell it, rent it, or borrow against it. You get tax benefits in many cases for buying vs. renting. Also, you protect yourself from rent inflation.
I read this argument repeatedly that it’s better to invest in the stock market. I think that a lot of people forget that a house is an investment that typically includes leverage (you control an asset with a 5–20% down payment). Population is spiking and people need a place to live.
Additionally, a house pays a huge dividend- a place to live. Please stop spreading the misinformation. Most people with a high net worth own real estate including the house they live in.
Rising rents are going to crush a lot of people. Home ownership isn’t right for everyone (you don’t plan on living somewhere long, it’s too much of a financial burden, overheated housing markets, etc.).