Both also make the assumption that owning a house is good. Renting should be just as good.
However if you rent for less than the mortgage you can invest the difference into something that will grow in value more than the house (which SHOULD track inflation) and in turn end up about the same in the end.
Of course, we did need to pay a down payment. But if you amortize that over a 30 year mortgage period, we’re still better off buying than renting.
Your mortgage is the lowest amount you'll pay. On top of that you have to manage the upkeep of the house, which costs both time and money. Lots of people go through phases in their lives where they move around and owning just doesn't make sense for a few 1 to 2 year stretches.
On the other hand, rent is the highest amount you'll pay. You generally don't have to worry about upkeep, and you're free to move. The commitment is lower and that has real value for certain people at certain stages of their lives.
I rented for 6 years in different areas until I figured out what I liked, and then I bought a house. Those 6 years weren't just wasted years. Those were very valuable years where renting really made the most sense.
Well guess who has to pay for that in a house that is rented? It's the renter!
Just the same as when you rent a car, the cost for maintenance is included in your rental fee.
You're just as free to move if you own a house: Just sell it, or rent it out. Any inconvenience from doing that is easily worth the money you save by not giving it away in paying rent.
On average, over time, in a free market, yes. But not necessarily in any specific case. The rent is a cap during the lease period, no matter what the landlord has to pay for maintenance.
I don't like these 2 statements because they are only true at a starting point. If someone gets a mortgage today for $2k/month, 10 years from now it'll still be $2k/month, or even less if rates drop and they refinance. Rents OTOH will continue to rise with inflation. I had a $2k/month mortgage at my last house and the house next door rented for $4500/month.
I don't feel my rental situation in either insecure or unstable. I recently moved (my choice) but previously I lived in the same rental complex for almost a decade. I took advantage of COVID to move to a larger apartment there for cheaper rent, which was a massive advantage I had over friends who owned homes at the time.