The original origin of the "obsession with home ownership" was the idea of escaping the need to pay fealty to the rentier class by owning your own home. I completely agree that "house as investment" and house flipping bubblemania is insane, and is partly responsible for ruining the real estate market.
Actual ownership is now impossible for ordinary middle to upper middle class people in markets like the Bay Area, and in fact renting is more rational there. But there are plenty of other markets where it's not impossible.
Actual ownership is now impossible for ordinary middle to upper middle class people in markets like the Bay Area, and in fact renting is more rational there. But there are plenty of other markets where it's not impossible.