I never said they didn't... The point is they don't have to hand over a majority of their income to pay someone else's mortgage. Even if home prices stagnate in their area and they can't sell for years, they get to keep a roof over their head for much, much less than someone renting a comparable place.
More likely is that their property values are going up somewhat, so what they spend on property taxes/upkeep is likely preserved as equity. Renters pay more and keep nothing in the end.
More likely is that their property values are going up somewhat, so what they spend on property taxes/upkeep is likely preserved as equity. Renters pay more and keep nothing in the end.