[bombcar]

The rent vs own argument is a detailed and deep one, and anyone who comes down 100% on "one answer" (even things like "house hacking") is likely missing something.

Index funds are almost always better than house appreciation over long periods of time; if you discount leverage - because it's "normal" to be leveraged 80% on a house, but you can't margin your index funds that high, and the government doesn't protect you from gambler's ruin on margin.

Owning usually tends to win out the longer you want (or have) to remain in the same location and same house, renting tends to win if you move relatively often (location or changing home type/size, etc) or if you're in a rental inversion (which much of the coasts are in).

At the extremes nobody suggests you should buy a house instead of renting a hotel room or AirBNB in a city you're visiting.

And it's not strictly a financial decision; it's also a personal one and people may choose the "financially non-optimal" because of other reasons.