Renting vs. buying — which one actually wins
There is no universal answer. Buying tends to win when you'll stay 5+ years, can put 20% down, and the price-to-rent ratio is under 18. Renting wins when the horizon is short, the market's ratio is above 25, or you can't put 20% down without depleting savings.
The transaction cost of buying and selling a home is roughly 6–10% of the price all-in. That overhead has to be amortized across enough years to be worth paying. Under three years, almost no math saves you. Under five, you need a fast-appreciating market.
The price-to-rent ratio (home price ÷ annual rent) is the cleanest single market test. Under 18 favors buying; above 25 favors renting; between 18 and 25 is mixed and the right answer turns on your own situation.
The "rent and invest the difference" strategy works in expensive markets — but only if you actually invest the difference. Most renters consume it. If you're honest with yourself about that, the math choice gets easier.