The article details costs and leaves two big ones out. First, opportunity cost: lot of folks rent instead of own on the basis of keeping assets in higher-performing market sectors. Second (and perhaps actually an expression of the first), anything that prevents a working professional from changing cities can exert downward pressure on future economic opportunity.

Maybe 1% of renters do that. The rest can't afford a house.

Changing cities? Sell or rent out your house. Not harder than moving apartments.