This is not true in every case, it's magical thinking. You can make a rational calculation of what works out better using local rental rates vs property prices

This is not true in every case, it's magical thinking. You can make a rational calculation of what works out better using local rental rates vs property prices (sometimes one of them is grossly out of proportion to the other), applying a liquidity and mobility premium and your expectations of what the rental and property markets will do long term.