[guntars]

Can you explain how buying in Bay Area can be more expensive than renting? The only reason I can think of is that there's an expectation that the property will appreciate greatly in the near term and can be sold for a profit, but eventually either the rents will raise to be above the buy option (in which case congrats to those who bought, well done) or someone will be left holding the bag.

So yes, I'll concede that in the temporary situation that buy is more expensive than rent, and there's a market correction coming, it's savvy to rent, but those aren't the folks that cry "Gentrification!".

And yes, owning a deed to your place or, even better, owning a business in the neighborhood, counts for more than just "having been there".