Survivor bias. I can name a few friends who bought in 2005-06 and it was a terrible decision. They lost their nest egg and forever became renters.
On average, I think you're correct. You will likely benefit in the long term in the USA buying a home due to the financial incentives and constant creep of inflation. That said, there is a comparative advantage to renting and investing your down payment in something other than real estate. You also maintain flexibility. Don't forget, the transaction costs on real estate are significant and the investment can often become quite illiquid. You have to have some stability in order to make a home purchase a good idea. Moving every 5 years or less will usually eat away at your principal over time and leave you with less wealth than if you'd just have rented.