Renting is many things, but it sure isn't flexible. If I get a new job while there are still 5 months left on my lease, I either need to eat a pretty hefty cost

Renting is many things, but it sure isn't flexible. If I get a new job while there are still 5 months left on my lease, I either need to eat a pretty hefty cost to get a second apartment now or take my chances that I'll be able to find a good apartment later (in addition to suffering the long commute for months). It might take a little time and effort for a sale to go through but at least I can choose when to start the process, and the fees don't need to be paid out of pocket when I move. And with buying a home, what you see is what you get, whereas with renting there is a huge unknown in the landlord/management that incentivizes you to stick with the devil you know. On top of this, the value of flexibility is itself questionable - maybe you'll get a new job in 5 months, maybe you'll be there 5 years; owning carries the risk you may have to sell at a sub-optimal time and take a loss, but renting is guaranteed to burn the money. In my opinion, renting makes more sense in situations like fixed term work contracts where you don't have flexibility.