This is me. I live in LA, near Hollywood. I pay 3k/month in rent for a 1200sq ft 2br apartment that’s close to everything.
A condo similar to my apartment (it was a condo conversion of a building similar to mine) in my neighborhood sold for almost a million this past year. That’s about 6k/month all in w/ taxes and whatnot, not including maintenance costs.
Why the fuck would I pay double to own the same thing, and lose all my flexibility, when I take that 3k difference every month and invest it. Which builds wealth too. Sure, my investments may not be as inflation protected as a home, but they’re a lot more fucking liquid. And I can move in 30 days no unsold house hanging over my head.