The challenge is separating the two oft intertwined thoughts of what's financially optimal, and what is lifestyle desirable.
We often use an argument in one area to justify a poor choice in another. It's fine to make a financially suboptimal choice to rent/buy (as is the case) to acquire a desirable lifestyle. Just as it's financially optimal to walk everywhere, but in reality we want to drive a car (and maybe a fancy one at that). It's when we start to say "This home is an investment, so I'll buy a $EXPENSIVE home"... that simply burdens us with high expenses relative to the lifestyle gains and we've actually done the opposite of good investing, for little lifestyle gained over a moderate home.
We often use an argument in one area to justify a poor choice in another. It's fine to make a financially suboptimal choice to rent/buy (as is the case) to acquire a desirable lifestyle. Just as it's financially optimal to walk everywhere, but in reality we want to drive a car (and maybe a fancy one at that). It's when we start to say "This home is an investment, so I'll buy a $EXPENSIVE home"... that simply burdens us with high expenses relative to the lifestyle gains and we've actually done the opposite of good investing, for little lifestyle gained over a moderate home.