[aravenel]

I think this is a very important point. In most places outside of the big cities (basically NY, SF, and Chicago), there is very little housing stock available for rent, aside from in low-income neighborhoods and near schools. Furthermore, what you do find is mostly people who are simple looking to sell but can't and are renting in the meantime--you had better bet that they will sell it out from under you at the first opportunity they get, and moving is not cheap.

Even if you are able to find a place to rent that is stable, now you have to deal with a landlord and (possibly) other tenants. You can't do what you want to the place, when you want to. I think this weighs on people.

I completely agree that too many people that shouldn't end up buying a place, and that buying a place is a lot of work. But it's about the only choice in most of the country.