That's exactly what my data-based analysis shows, and why I kept our old house when we moved, and started leasing it out.

However, in fairness, not everyone can afford the down payment on a home, and not everyone who can afford it should buy.

There are cases where it makes more sense to rent than buy. For example, I had a client in the Bay Area who lived in a nice rent-controlled apartment. Buying a similar place would have resulted in his having to pay much more for his housing.