A home purchase is such a large amount of money that if the house is not appreciating, why buy it? Why take on the financial burden and risk of such an illiquid investment? Until rents and mortgages hit equilibrium, there’s very little financial logic to owning. Especially in a down trending market.
The two strongest financial reasons to own are appreciation and eventually living in a paid-0ff home. But you’ll always have taxes and maintenance to pay as long as you own. And you could have been investing the difference between your mortgage and rent in other assets that are performing better in the appreciation arena.
