Plus, the mobility aspect to just pick up and leave gives me a ton of reassurance.
There is also the bonus that someone else has to fix the appliances and do maintanance than me.
You have two choices that masquerade as purely economic ones while ignoring the enormous lifestyle differences.
I rent a tiny room in the heart of NYC for the cost of probably a monthly mortgage payment on a nice house in upstate NY. For me there is really no alternative because my entire life revolves around my immediate walkable neighborhood.
The economics of rent vs buy matter but lifestyle and future expectations are too often downplayed in comparison.