A home can be a great place to live, but it can also be an enormous burden that ain't worth the hassle and eliminates a lot of flexibility for the people living in it.
The “American Dream” for today’s millennials is not about home ownership; it is not about getting married and raising children. Their dream is a bucket list of experiences that is not tied to any one city, or even country. Renting is much better suited to someone who may be working in Boston this year and Vancouver next year, then move to China and teach business English before coming back to Los Angeles.