This was covered a couple weeks ago when the original smartmoney article came out.

The real benefit of renting is it keeps you from over-consuming housing. You don’t get a three bedroom until you need a three bedroom. People are content renting a one bedroom but typically want to buy a 3/2.

You change jobs, you change rentals and still have a 7 minute commute. Big house filled with stuff? Nope. A small kitchen set, living set and bedroom set. No dining room collecting dust. No need for four TVs in the living room, family room, kitchen counter and bedroom. etc. & so on.

Transaction costs in buying RE makes it like signing a 3 or 4 year lease. ( how many people willingly sell multi-year leases without significant discounts?). Unless you need a 3/2, 4/2+ with yard, there’s little reason to get one everything else, is simply more available as a rental.