Most of urban folks are renting, it's just based on what is available in what areas. I know my apartment of eight years on a highly coveted street in West Hollywood but 75% of the residents are long term renters. My landlord occupied our duplex close to forty years ago and held onto it when she moved out to the Valley to buy something bigger for her growing family.
Suburbanites cannot understand this train of thought, but us folks born and raised in busy cities just can't stand the idea of not being able to walk two blocks to buy a coffee.
I find myself thinking this may make better sense for me as well. I love my apartment and obviously living there for eight years has made me somewhat attached to it. Marrying last year and now in my early thirties, I am thinking about starting a family one of these days but our current place is not big enough. If I were to buy in our neighborhood, I would wind up with something Spanish (yuk!), small, and probably needing work for close to a million bucks. My tastes are mid-century, post and beam and I'd even take modern-contemporary but moving to Beachwood Canyon takes me out of the convenient local of our current pad. Maybe just buy a great house with a yard and pool in Palm Springs and spend the weekends there all the while saving a few hundred thousand? My plan makes perfect sense, and the article is there to back me up. Now I just need to convince hubby