Sure, but this is not universal.

I could have bought 15 years before I did. But because rent was less than half a mortgage (not even including maintenance), I was able to put that extra money into the market and save enough for more than a down payment on a forever home vs starter home when I was ready.

It’s certainly not like for like, but it would have been a poor financial decision to buy vs rent.

Where I live now this math is more or less inverted. Makes more sense to buy vs rent.

In the end your primary residence is a lifestyle decision, not a financial one. It’s not an investment in the traditional sense. It’s speculation at best.