This isn’t a difference of stance on the issue of owning vs. renting. The matter is that people who AGREE with the merit of ownership are being blocked out of a scalper’s market.
then look in a different area.
This is like ... walking through Neiman Marcus and saying DANG! clothes are no longer affordable!
They might be priced out of certain markets that are currently popular and in high demand. But if they are willing to drive a little further, or take a chance in a more marginal area, there are still tons of deals.
And plus as several people have already mentioned here, you don’t have to start with a “home”, you can start with a condo. The point is to get into something you “own” no matter what it is, as soon as possible. As soon as you do that you will have extra money (the difference between what you new house payment is and what your rent was) That extra money will allow you save up for the next down payment much faster and easier. You move out of your original place and rent that out and into you new place. It’s always easier to get a loan on something you will be living in. So you just jump from place to place, living in each along the way and stepping up each time and renting out the one you left.
Just as a fun exercise, can you give me a city that you think is unaffordable and where normal people are being priced out?