I'm not sure why people feel that renting is throwing money away, sometimes it's cheaper. A 3/2 house in my area is around 500k and comes out to a mortgage over 3k. My wife and I are signing a lease for a good 3/2 for $2150. So I'll save about 1k a month versus a mortgage. Additionally, I won't have to pay taxes, insurance, PMI, regular house maintenance, upgrades, and sometimes HOA. Taxes alone can be 1k a month or more (looking at Texas). When I did own a home I had to pay for repairs consistently.

Homeownership is expensive.With the numbers In my area, I can rent and invest the money saved in other prospects and make a similar or better return (assuming appreciation goes back to normal rates) than buying a home. Buying a home is usually a better option but it's not always the best option depending on your area. Also, some people want to rent for the freedom to easily move to other places or areas.