My point is that for young people who grew up in cities like London or Vancouver, the choice is not buy or rent, the choice is rent or move away from the city they grew up in if they want to be able to buy a house on a middle class salary.
In San Francisco, owning is incredibly expensive. But so is renting an equivalent piece of property. So I'm not grasping why the options are limited to rent or "move away". (aside from exceptions such as renting under rent control)
(Or alternatively, you don't yet have enough saved for a down payment. In that case, wait a few years and run this calculation again. If you still won't have enough money in a few years, your rent is too high for your income)